Chevron stock sends loud message as oil panic grips Wall Street
Chevron (CVX) is no longer just another oil stock. Right now, in the current climate, it is being treated like a safe-haven trade in a very jumpy energy market. That helps explain why the stock is galloping along at such an excellent pace. Since late February, oil prices have risen sharply as the conflict in the Persian Gulf and disruptions in the Strait of Hormuz rattled global supply. That waterway handles about 20% of the world’s oil and gas flows, so if there is any action in that area of the world, ...