"Global Tensions Ignite Unlikely Winners in the Energy Market. When the Strait of Hormuz, a crucial waterway for oil shipments, was threatened with closure in 2022, the world held its breath, anticipating a catastrophic spike in gas prices. However, amidst the chaos, a peculiar trend emerged: electric vehicle (EV) stocks experienced a quiet surge in value. But why? As it turns out, the increased uncertainty surrounding oil supplies inadvertently boosted the attractiveness of EVs as an alternative energy source, leading investors to flock to EV stocks in search of a safer bet. Find out how the Strait of Hormuz closure sent gas prices soaring, while EV stocks quietly capitalized on the opportunity."
The Strait of Hormuz Closure Sent Gas Prices Up. EV Stocks Quietly Benefited. Here's Why. Yahoo Finance
