When it comes to transport, lithium is a small but growing substitute for oil. If the price of oil goes up then some demand for lithium goes up, increasing the price. If the price of oil goes down, then some demand for lithium goes down. This may have impacted the lithium sector in recent weeks, although the oil price has been going up since the beginning of August. There are also other industrial uses for lithium that may or may not be impacted by the oil price. All of this would be contributing to the overall sentiment in the lithium sector.
