Dow Inc. shares rise 48% on natural gas supply shocks and US cost edge

Dow Inc. has seen its share price surge 48% since October, driven by disruptions in the global natural gas market and its cost advantages in the US. Geopolitical tensions, including the Iran conflict and a shutdown of Qatari LNG operations, have tightened supply, benefiting Dow's chemical pricing and operational performance. Despite modest Q4 and 2025 outlooks, Dow is expected to outperform European and Asian peers due to constrained non-US gas supplies, supporting a buy rating.