Investing.com -- BMO Capital Markets reported Friday that chemical stocks moved higher Thursday despite ongoing disruptions to oil flows through the Strait of Hormuz, with commodity-focused names gaining while electronics-linked stocks declined.

President Donald Trump said Thursday the U.S. will not attack Iran before the November 3 midterm election and that the country was having "productive discussions" with Tehran. The statement followed Trump's Wednesday remarks to media that his administration was considering renewed strikes against Tehran before the election.

The number of vessels moving through the Strait of Hormuz dropped to the lowest level in more than two months after attacks on tankers in the waterway reached their highest point last week since the start of the U.S.-Israeli war with Iran, according to shipping data. Traffic flows through the Strait have fallen to minimal levels, reducing oil flows from the Middle East as alternative routes cannot fully compensate for the disruption.

Polyethylene and polypropylene prices paused after recent increases, while U.S. acetic acid and PVC prices rose slightly, BMO Capital said.