--- title: "From leading the rise to being at the bottom! High oil prices erode profit margins, the U.S. stock materials sector plummeted 10% at the end of February" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/279790089.md" description: "The U.S. stock materials sector has performed poorly since the outbreak of the Middle East war, with a decline of 10%. The surge in oil prices has increased industrial production costs, leading to a drop in the stock prices of companies like PPG Industries and Smurfit WestRock by at least 16%. Analysts point out that rising oil prices will put profit pressure on related companies, raising doubts among investors about the strength of demand for raw materials" datetime: "2026-03-19T12:38:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279790089.md) - [en](https://longbridge.com/en/news/279790089.md) - [zh-HK](https://longbridge.com/zh-HK/news/279790089.md) --- > 支持的语言: [English](https://longbridge.com/en/news/279790089.md) | [繁體中文](https://longbridge.com/zh-HK/news/279790089.md) # From leading the rise to being at the bottom! High oil prices erode profit margins, the U.S. stock materials sector plummeted 10% at the end of February According to Zhitong Finance APP, as one of the strongest performing sectors in the U.S. stock market this year, the materials sector has become one of the biggest decliners since the outbreak of the Middle East war, due to soaring oil prices driving up industrial production costs. Data shows that companies such as PPG Industries (PPG.US), Smurfit Westrock (SW.US), International Paper (IP.US), and Vulcan Materials (VMC.US) have seen their stock prices drop by at least 16% since the market close on February 27, dragging the S&P 500 Materials Index, composed of 26 constituent stocks, down by 10% during this period. After the outbreak of the Middle East conflict, only four of the index's constituent stocks did not experience a decline. Prior to the conflict, only one of these stocks had dropped since 2026. Record metal prices, strong fourth-quarter performance, and expectations of a rebound in chemical demand drove the materials sector's rise at the beginning of 2026. However, the recent slump in the sector is attributed to disruptions in the Strait of Hormuz, which have pushed crude oil prices up by as much as 50%, reaching nearly $110 per barrel, while oil is a key input for many materials companies. Michael O’Rourke, chief market strategist at independent brokerage firm JonesTrading, stated, "Rising oil prices will create inflationary or profit pressures for companies that use oil and petroleum products, even for those in construction and contracting." Scott Helfstein, head of investment strategy at Global X, noted that rising crude oil prices are also a reason for consumers and businesses to cut spending. He said, "Given that rising oil prices may suppress consumer demand and corporate investment, investors are questioning whether demand for materials will remain strong." ![21.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260319/1773923499506898.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) The materials sector has become the worst-performing sector in the S&P 500 Index since the outbreak of the Middle East war. Meanwhile, metal stocks have also retreated during the Middle East war after last year's record surge. Following a 168% rise in 2025, the stock price of gold miner Newmont Corporation (NEM.US) has dropped 18% since the war began. Metal and mining stocks typically perform well during geopolitical conflicts, but the previous significant rise has led to a correction this time, and a stronger dollar has also put pressure on metal prices. O’Rourke stated that precious metals "experienced a speculative rally at the beginning of the year, which weakened their safe-haven attributes," adding that "in that situation, they traded more like risk assets." However, some stocks in the materials sector have risen during the Middle East war. Petrochemical and fertilizer companies, such as LyondellBasell (LYB.US), Dow Chemical (DOW.US), and CF Industries Holdings (CF.US), have risen over 20% since the conflict began, as limited supply from Middle Eastern counterparts is expected to drive up demand and prices for North American producers Despite a pullback due to the impact of war, investors have not completely withdrawn from the materials sector—this sector has still risen about 6% year-to-date in 2026. Although the price-to-earnings ratio of the materials index has retreated from its high at the beginning of the year, the earnings expectations for the next 12 months have not changed much. Orock stated, "The market is still looking ahead, expecting the U.S. to maintain an advantage and anticipating a drop in oil prices. However, if this situation persists for a longer duration, market confidence will be eroded." ### 相关股票 - [SPDR Energy Select (XLE.US)](https://longbridge.com/zh-CN/quote/XLE.US.md) - [Occidental Petroleum (OXY.US)](https://longbridge.com/zh-CN/quote/OXY.US.md) - [VanEck Oil Refiners ETF (CRAK.US)](https://longbridge.com/zh-CN/quote/CRAK.US.md) - [VanEck Oil Services ETF (OIH.US)](https://longbridge.com/zh-CN/quote/OIH.US.md) - [Alerian MLP (AMLP.US)](https://longbridge.com/zh-CN/quote/AMLP.US.md) - [Smurfit WestRock (SW.US)](https://longbridge.com/zh-CN/quote/SW.US.md) - [Pro Ultr Bloomberg Crude Oil (UCO.US)](https://longbridge.com/zh-CN/quote/UCO.US.md) - [GLOBAL X MLP & Energy Infra (MLPX.US)](https://longbridge.com/zh-CN/quote/MLPX.US.md) - [SPDR O&G Ex & Prd (XOP.US)](https://longbridge.com/zh-CN/quote/XOP.US.md) - [ISHRS S&P Glb Engy (IXC.US)](https://longbridge.com/zh-CN/quote/IXC.US.md) - [Us Brent Oil (BNO.US)](https://longbridge.com/zh-CN/quote/BNO.US.md) - [VG Energy (VDE.US)](https://longbridge.com/zh-CN/quote/VDE.US.md) - [iShares US Oil & Gas Expl & Prod (IEO.US)](https://longbridge.com/zh-CN/quote/IEO.US.md) - [Global X MLP (MLPA.US)](https://longbridge.com/zh-CN/quote/MLPA.US.md) - [United States Oil Fund LP (USO.US)](https://longbridge.com/zh-CN/quote/USO.US.md) - [iShares US Oil Equip & Svcs (IEZ.US)](https://longbridge.com/zh-CN/quote/IEZ.US.md) - [SPDR O&G Equip (XES.US)](https://longbridge.com/zh-CN/quote/XES.US.md) - [PPG (PPG.US)](https://longbridge.com/zh-CN/quote/PPG.US.md) ## 相关资讯与研究 - [Wilmington Savings Fund Society FSB Has $2.83 Million Stock Holdings in PPG Industries, Inc. $PPG](https://longbridge.com/zh-CN/news/279777658.md) - [RUBBER-Japan futures fall as Middle East war turns consumers cautious](https://longbridge.com/zh-CN/news/279391987.md) - [Petrobras CEO says high oil prices are good for dividends to shareholders](https://longbridge.com/zh-CN/news/279075654.md) - [Eurogroup chair says Europe should act swiftly to protect economies if energy prices stay high](https://longbridge.com/zh-CN/news/279057297.md) - [EU wheat regains ground with Chicago on Middle East war escalation](https://longbridge.com/zh-CN/news/279646243.md)