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Middle East tensions choking oil supply — energy stocks could surge to multi-year highs

Ongoing conflicts in the Middle East are severely disrupting global oil shipments through a critical chokepoint, and experts warn that oil prices could surge to $150 a barrel if the situation doesn't improve.

Idea

A massive portion of the world's oil has to pass through the Strait of Hormuz, which is currently facing major disruptions due to ongoing geopolitical conflicts. Traders now believe these delays and supply fears will last until the end of the year. If the price of oil pushes toward $150 a barrel as experts predict, the stock prices of oil drilling and production companies are likely to soar alongside it, as they make significantly more profit per barrel.

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CVXUSOXLEdaily#macro#energy#geopolitical

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