The threat of war is back.
Just days ago, President Trump said Iran “will pay a very BIG PRICE” after protesters attacked the U.S. embassy in Baghdad, demanding that American troops withdraw. All after U.S. strikes against Tehran-backed Kataib Hezbollah killed at least 25 people.
At the time, Iran didn’t take the threat seriously.
“Firstly, you can’t do anything and secondly, if you were logical—which you’re not—you’d see that your crimes in Iraq, Afghanistan… have made nations hate you,” said Iran’s Ayatollah Khamenei, as quoted by Newsweek.
The U.S. then followed up with an airstrike that killed Iran’s top general.
“While Iran will never be able to properly admit it, Soleimani was both hated and feared within the country. They are not nearly as saddened as the leaders will let the outside world believe. He should have been taken out many years ago,” said Trump.
As a result of the escalation, oil prices are rocketing higher, last trading at $63.58. The Dow is down 240 points. The S&P 500 slipped 25, with the NASDAQ down 78 points.
Some of the top energy stocks moving higher include:
SPDR Energy Select Sector ETF (XLE)
The Energy Select Sector SPDR Fund seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the Energy Select Sector Index. It also seeks to provide precise exposure to companies in the oil, gas and consumable fuel, energy equipment and services industries.
Invesco DB Oil Fund (DBO)
This ETF seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return plus the interest income from the Fund’s holdings of primarily US Treasury securities and money market income less the Fund’s expenses. It trades WTI crude futures.
iShares Global Energy ETF (IXC)
The iShares Global Energy ETF seeks to track the investment results of an index composed of global equities in the energy sector. Trading at $31, some of its top holdings include Exxon Mobil, Chevron Corporation, BP PLC, Total SA, and EOG Resources.
