Oil keeps climbing as Middle East tensions flare — ride the energy wave with XOM and XLE
Rising tensions between the US and Iran are pushing oil prices higher, which in turn is driving up inflation. The government's latest reports confirm that inflation is heating up, causing general stock market jitters.
Idea
Oil has been rising for three straight days as clashes between the US and Iran threaten a fragile peace deal, directly threatening global oil supplies. The government's latest Beige Book report confirmed that these rising energy costs are already pushing inflation higher across the economy. Because this is a real-world supply disruption rather than just market speculation, energy companies stand to make significantly more money on their existing oil production, making their stocks an attractive safe haven while the rest of the market struggles with inflation fears.