- Oil prices surge after US forces kill Iranian general, under Trump’s orders.
- Armed conflict between the US and Iran could destabilize oil supplies sending prices further up.
- Three oil stocks already enjoy high analyst favorability ratings, giving them potential for more upside as tensions in the Middle East rise.
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The killing of the Islamic Revolutionary Guards’ leader General Qasem Soleimani by US forces has oil prices surging. With the rise in oil prices, oil stocks are bound to follow in the same direction.
In the immediate aftermath of the top Iranian general’s killing,oil prices roseby as much as 4% before paring back some of the gains. However, this is unlikely to be the end of the matter. Iran is expected to retaliate and this could affect oil supplies globally.
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