Oil prices are gushing higher this morning.
For one, Iran just seized a tanker off the coast of Oman, escalating tensions in the Middle East. Two, the U.S. and Britain just launched a strike against the Iranian-backed Houthis, which will stir up even more tension in the region. Should tensions boil over even more, oil prices could easily rocket higher. That being said, investors may want to take advantage of the dip in stocks, such as Occidental Petroleum (OXY).
In addition, there’s also speculation Warren Buffett’s Berkshire Hathaway could buy more shares of OXY on the latest pullback.