Oil keeps climbing as Middle East tensions flare — accumulate energy stocks
Oil prices are climbing for the third day in a row as military clashes between the US and Iran threaten a fragile peace deal. This geopolitical tension is also being blamed for pushing overall inflation higher, which the Fed highlighted in their latest report.
Idea
Rising tensions in the Middle East directly threaten the flow of global oil, which is why we are seeing prices push higher for three straight days. The Federal Reserve also noted that these rising energy costs are driving up inflation across the board. As long as the conflict persists, oil prices will likely stay elevated as markets price in the risk of disrupted supply. Buying a broad oil ETF allows you to profit from this steady climb without tying your money to a single oil company.