Oil surges on fresh Iran strikes near Hormuz — ride the energy rally with Exxon and Chevron
The U.S. just carried out airstrikes on Iranian military targets near the Strait of Hormuz for the second time this week. Oil prices have already jumped nearly 3%, pushing Brent crude toward $97 a barrel, and there's no sign of a peace deal.
Idea
The Strait of Hormuz handles roughly one-fifth of the world's oil shipments. Every time military conflict flares near it, oil prices tend to spike — and energy company shares ride that wave higher. Brent crude is already approaching $97, and the ceasefire is looking fragile. Oil stocks like ExxonMobil and Chevron tend to climb fast in the first couple of weeks after a geopolitical shock, especially when oil itself is breaking above its recent range. With no deal in sight and inflation already running hot, this push could have legs.