A few words of caution before you start buying stocks.
Oil rose in early trade amid escalating concerns over supply disruptions in the Middle East.
WTI crude oil is testing key resistance after a strong recovery, with a breakout potentially opening the path toward higher Fibonacci targets.
Oil prices rose for a fourth straight day on Thursday after a new wave of U.S. strikes on Iranian military installations fuelled fears of renewed full-scale conflict and supply disruptions in the Strait of Hormuz.
Oil rose in the early Asian trade amid prospects of an escalating Middle East conflict.
Commercial crude oil stocks fell by 1.7 million barrels last week. Analysts expected crude stocks to decline by 900,000 barrels.
Oil rose on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran launched retaliatory strikes on U.S. infrastructure in the region.
Americans could soon see gasoline prices top $4 a gallon again as renewed hostilities between the U.S. and Iran have pushed energy prices higher by paralyzing traffic through the Strait of Hormuz, a critical route for global oil supplies.
Brent crude futures have jumped 15% already this week as tensions between the U.S. and Iran have escalated.
Brent crude oil rose back above $85 a barrel for the first time in a month in early European trade following the third straight night of U.S. attacks on Iran, and its renewed blockade on Iranian trade.
President Donald Trump has proposed to impose a 20% fee on cargo passing through the Strait of Hormuz. Lipow Oil Associates estimates that Trump's proposed fee would effectively add about $16 a barrel to oil shipped through the strait.
Oil rose amid the escalating Middle East conflict. The U.S. launched its third straight night of strikes on Iran following President Trump's announcements of a multiday wave of attacks and a fresh blockade on Iranian trade in the Strait of Hormuz.