With oil prices above $100, are EVs set to gain market share?

Core Viewpoint - The ongoing war in Iran and the effective closure of the Strait of Hormuz have significantly impacted the global oil market, causing Brent crude prices to surge to $106 per barrel on March 1 [1] Group 1: Impact on Oil Prices - The conflict in Iran has transformed the Strait of Hormuz into a critical chokepoint for global oil transportation, leading to increased oil prices [1] - Brent crude reached a peak of $106 per barrel, indicating a substantial rise in oil costs due to geopolitical tensions [1]