Bruce Jefferson
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Bruce Jefferson in Commodities,

Argus Believes Oil Price Volatility A Headwind For LyondellBasell

Argus maintained its Hold rating on LyondellBasell Industries NV  saying fluctuating oil prices should result in volatile earnings at the company.

"Despite the recent rebound in crude oil pricing, which has a strong impact on the pricing of many Lyondellproducts, including ethylene, polyethylene, propylene, oxygenated fuels and acetyls, we do not believe that crude prices are sustainable at current levels," analyst Bill Selesky wrote in a note.

"We look for continued oil price volatility in the near term, leading to an uneven trend of both rising and falling earnings for LYB," Selesky noted.