Oil stocks could gush higher, including Occidental Petroleum (OXY).
All as geopolitical tensions mount.
At the moment, according to The Wall Street Journal, “Israel is preparing for a direct attack from Iran on southern or northern Israel as soon as Friday or Saturday, according to a person familiar with the matter.” They also reported that, “A U.S. official with knowledge of the matter said Thursday that American intelligence reports indicate an Iranian retaliatory strike within days, ‘possibly on Israeli soil’ as opposed to Israeli interests elsewhere.”
Should that happen, the U.S. would get involved, and the situation could engulf most of the region. While we hope Iran decides not to attack, the growing possibility is sending oil prices even higher this morning.
