US-Iran clashes keep oil climbing — load up on energy stocks while prices surge
Oil prices are climbing for the third day in a row as military clashes between the US and Iran make a peace deal look less likely. The government also just reported that inflation is heating up, largely because these conflicts are making energy more expensive.
Idea
Rising military tension in the Middle East directly threatens the global supply of oil, which naturally drives prices higher. The government's latest report confirms this is already happening, noting that energy costs are actively pushing up inflation nationwide. Because peace talks are deteriorating rather than improving, this strain on oil supply isn't likely to disappear overnight. Energy companies and oil funds stand to benefit directly as the price of crude continues its three-day winning streak.