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Oil rises for a third day as Middle East tensions spike — ride the momentum on energy stocks

Oil prices are climbing for the third day in a row because of renewed fighting between the U.S. and Iran, which threatens a fragile peace deal and keeps global energy supplies at risk.

Idea

Rising tensions in the Middle East, specifically fresh clashes between the U.S. and Iran, are directly disrupting the outlook for global oil supplies. Oil has already been rising for three straight days, and a Federal Reserve report just confirmed that energy prices are pushing inflation higher across the board. As long as the threat to the Strait of Hormuz remains, this energy price momentum is likely to continue, benefiting major oil companies and energy funds.

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CVXUSOXLEXOM1D#commodities#geopolitics#momentum

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