CVX is trading at $197.56 (+3.01%) as Brent crude hits $100 due to escalating Middle East tensions in the Strait of Hormuz, bucking the broader market sell-off.
- The IEA's largest-ever emergency oil release failed to cap prices amid supply disruption fears, boosting energy stocks like Chevron.
- Bank of America recently raised its price target to $206 citing a sustained geopolitical risk premium and upcoming growth projects.