Middle East tensions escalate, driving fertilizer stocks higher

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Investing.com – In pre-market trading on Thursday, fertilizer stocks rose after reports that Iranian ships may have attacked two fuel oil tankers in Iraqi waters, escalating tensions in the Middle East.

Mosaic (NYSE:MOS) rose 4.6%, CF Industries (NYSE:CF) increased by 3.2%. Nutrien (NYSE:NTR), the U.S.-listed stock, gained 3%.

According to Yardeni Research, many fertilizers are transported through the Strait of Hormuz, including one-third of the world’s urea exports.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

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