Executives at an American fertiliser manufacturer have pocketed more than $30mn selling their own stock since the start of the war in Iran as access to low-cost US natural gas has turbocharged the company’s shares.
Natural gas prices have surged far higher in Asia and Europe than in the US as Iranian attacks on Gulf refineries and the closure of the Strait of Hormuz have roiled energy markets and shaken industrial supply chains.
Natural gas is a crucial component in the production of nitrogen fertilisers such as urea and ammonia, which underpin about half of global food production.
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