"With ceasefire hopes fading, oil is up $3.45 at $115.85. The major indices are deep in the red, with the S&P 500 down 0.47%."
"Iran has so far rejected the ceasefire. Analysts at the Macquarie Group suggest that if the war lasts through June, oil prices would likely spike above $200 a barrel."
"Stocks like Exxon Mobil, Occidental Petroleum, and Chevron could profit from rising oil prices. Wingstop has been upgraded to a buy, but its price target has been lowered."
Oil prices have increased by $3.45 to $115.85 as ceasefire hopes fade. Major stock indices are down, with the S&P 500 down 0.47%. Bitcoin is trading sideways at $68,166. President Trump has made provocative statements regarding Iran, which has rejected the ceasefire. Analysts suggest that if the conflict continues, oil prices could spike above $200 a barrel. Stocks like Exxon Mobil, Occidental Petroleum, and Chevron may benefit from this situation. Wingstop has been upgraded to a buy despite a lowered price target.
Read at 24/7 Wall St.
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