Chevron is trading 3% up at $181.73 as investors rotate into energy stocks following a sharp jump in crude prices tied to escalating US–Iran hostilities around the Strait of Hormuz.
- Brent crude surged over 4% as geopolitical risks heighten concerns over global oil supply.
- The broader Energy sector is up more than 2% amid a market rotation out of technology stocks and into oil majors.
- Chevron is benefiting from a flight to safety as investors position for higher energy prices.