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The Iran war is pushing oil prices higher—but markets may already be positioning for what comes next. Oil price has surged sharply since the conflict escalated, lifting energy stocks and reviving inflation concerns. But while oil majors have gained, the bigger move may be happening elsewhere.
Battery Stocks Are Outpacing Oil
China’s battery giants— BYD Co., Ltd. (OTC:BYDDF) (OTC:BYDDY) , Contemporary Amperex Technology Co., Ltd (CATL) and Sungrow Power Supply Co., Ltd.—have added more than $70 billion in market value at the Chinese stock market since the conflict began, with their China shares rising roughly 19–22% over the period, Financial Times reported.
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