Oil surging toward $97 as U.S. strikes Iran twice in one week — grab Exxon, Chevron, and ConocoPhillips before crude climbs further
The U.S. has now struck Iranian military targets twice this week near the Strait of Hormuz — a critical oil shipping chokepoint. Oil prices have jumped nearly 3%, pushing Brent crude toward $97 a barrel, with no sign of a peace deal.
Idea
Every time military escalation flares near the Strait of Hormuz — through which roughly 20% of the world's oil flows — energy stocks get a bid. This is now the second U.S. strike in three days, and Bloomberg reports that hopes for a diplomatic breakthrough are fading. Brent crude is approaching $97, and with inflation already at a three-year high, higher energy costs could stick around. Major oil producers like ExxonMobil, Chevron, and ConocoPhillips benefit directly from higher crude prices: every dollar added to the price of a barrel flows through to their bottom line. The conflict escalation pattern is clear, and there's no ceasefire in sight to reverse it.