Oil Climbs to a 1-Month High as the U.S. and Iran Trade Attacks in the Strait of Hormuz. Here's What it Means for Energy Investors.
It may not be the big windfall that you'd expect for oil stocks.
Overview
Oil prices spiked on Tuesday to above $87/barrel: their highest levels in more than a month as the U.S. announced it would impose a naval blockade on Iran in the Strait of Hormuz. The move is in response to Iran’s attacks on regional U.S. allies and passing ships traversing the Strait.
A return of higher oil prices is unwelcome news for American consumers. Even big oil companies – which theoretically stand to benefit when oil prices are high – may not be thrilled with this latest development. Here’s what the oil price spike means for energy investors.
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Originally published at www.fool.com.
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