Hormuz Crisis Lifts Energy Firms While Roblox Takes Hit

Oil and gas prices are rising due to the nearly closed Strait of Hormuz, which is also boosting chemical prices. This has led to a bullish outlook for energy firms like Chevron (CVX) and LyondellBasell (LYB).

Chevron enjoyed a significant rally throughout July, with revenue increasing by 56.2% year-over-year (Y/Y) to $70 billion in Q2. The company earned $6.06 as revenue increased, with its solid management team offering a stable dividend. Chevron's developments in Venezuela are seen as a growth tailwind.

LyondellBasell has a strong chance of retaking its $83.94 high for the year. In Q2, the company posted revenue of $9.18 billion, up 19.8% Y/Y. The 'forever war' in Iran is expected to further lift chemical prices.

The CEO stated that EBITDA topped $2.1 billion, with an estimated six million tons of polyethylene capacity damage in the Middle East supply until at least 2027. This will create higher prices for LyondellBasell's products.