German chemical distributor Brenntag said on Thursday that the war in Iran is pushing chemical prices higher. The company's new CEO, Jens Bergersen, told analysts in a call that prices have started to rise sharply following the conflict with Iran. As the second week of the US-Israeli war against Iran draws to a close, the escalation of tensions in the region has disrupted markets, raising fears that the widening war will lead to an oil price shock, increase inflation, and curb consumer demand. He added: "We are passing on the cost increases and are working on this intensively."
