Oil surges on U.S. strikes near the Strait of Hormuz — load up on energy stocks
The U.S. has struck Iranian military targets near the Strait of Hormuz for the second time this week, and oil prices are surging toward $97 a barrel. There's no sign of a peace deal anytime soon.
Idea
Fresh U.S. airstrikes on Iranian targets near the Strait of Hormuz are reigniting fears that one of the world's most important oil shipping routes could be disrupted. Brent crude has already jumped nearly 3% toward $97 a barrel, and with no diplomatic breakthrough in sight, the risk of further escalation is real. When oil spikes on geopolitical tension rather than pure demand, energy stocks like Chevron and Exxon tend to play catch-up over the following days as traders re-price the possibility of sustained higher oil. The inflation data also came in hot today, which reinforces the narrative that commodity prices could stay elevated.