“Keep an eye on oil stocks, like Occidental Petroleum (OXY),” we noted on April 1. “With oil now up to $83.17, and gushing higher heading into the warmer months of the year, oil stocks could run even more. According to GasBuddy, oil prices are pushing higher as more Americans get ready for Spring Break and summer.
At the time, OXY traded at around $67. Today, it’s up slightly at $69.01 and could run higher should the situation between Iran and Israel get worse.
After Iran attacked Israel, NBC News just reported, “Israel is in a very significant 24-hour period and appears to be carefully weighing its next steps in response to Iran’s attack, Israeli Defense Forces spokesman Daniel Hagari said.” In addition, we’re also learning, “Israeli fighter jets struck numerous Hezbollah targets in Lebanon today in the towns of Kfarkela, Maroun al-Ras, Aita al-Shaab, Souaneh and Markaba.”