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.

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%.

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.

The crude oil market has rallied during the session on Tuesday, as we are still in the midst of a massive breakout from a consolidation range that has been obvious for some time now.