"London's FTSE 100 has scaled fresh heights as its defensive qualities shine once again in an uncertain world. "Investors are grappling with the fallout from a tech sell-off and are assessing deteriorating relations between the US and Iran. The Footsie hit fresh record levels in early trade, as investors sought solace in its constituents with mining, utilities and energy stocks making gains.
In a Saturday press conference addressing America's military intervention, Trump said, "We're going to have our very large United States oil companies-the biggest anywhere in the world-go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure." While the president did not name any specific companies, based on premarket trading this morning, investors seem to think that the following oil and energy giants stand to benefit from the intervention:
The U.S. Strategic Petroleum Reserve (SPR) was created in 1975 by the Energy Policy and Conservation Act, signed into law by President Gerald Ford. It was established in response to the 1973-1974 oil embargo, which highlighted the U.S. economy's vulnerability to oil supply disruptions. Those who were around at the time, like your author, witnessed long lines at the gas stations as the price of a gallon of gas jumped as much as 43%. In fact, the national average cost
