These are the times when investors need a strong stomach. Oil prices are surging due to the conflict between the United States and Israel against Iran. Initially, that caused energy stocks tied to the oil and gas sector to rise. But many of those stocks are giving up their gains as investors begin to view the conflict through a wider lens.
The immediate concern that’s causing oil prices to spike is Iran’s threat to halt traffic through the Strait of Hormuz. This is a critical transit point for approximately one-third of the world’s seaborne crude exports.
