Iran, Israel and oil prices
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The crude oil market initially gapped higher on Monday, only to turn back around and show signs of weakness. In fact, by the time we got to the “open cry” session, the market had turned negative.
Diamondback Energy stock rose 5% and Occidental Petroleum rose nearly 5% as a swathe of energy-related stocks reacted to a jump in crude prices after Israel's attack on Iran. Conoco-Phillips' stock rose 4%, ExxonMobil rose 3% and Chevron gained 2.7%.
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InvestorsHub on MSNOil Prices Climb as Geopolitical Risks Weigh on Supply OutlookOil prices extended their upward momentum on Tuesday, building on Monday’s rally as geopolitical tensions and uncertainty over a potential U.S.-Iran nuclear agreement raised fresh concerns about global crude supply disruptions.
The crude oil market initially gapped higher to kick off the trading session on Thursday, as the market continues to see a lot of crosswinds. Having said this, the market still is likely to find buyers.
Repsol's natural gas production and the bullish outlook for gas prices support continued resilience and earnings strength. See why REPYF stock is a Hold.