BASF chief warns of new oil price shock due to Iran war

NAMPA / DPA
2026-06-09
Frankfurt/Berlin (dpa) - The chief executive of Germany's BASF, the world's largest chemical producer, on Tuesday warned of a new oil price shock due to the US war in Iran. "With oil, we are now slowly reaching the point where reserves are gradually being depleted," Markus Kamieth said at the International Club of Frankfurt Business Journalists (ICFW). If the Strait of Hormuz does not open soon, he said, there could be "another price shock in the......
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