Donald Trump's Iran Blockade Announcement Sent Oil Prices Surging and the Dow Falling
Yahoo Finance ·
The geopolitical conflict in the Middle East isn't good news for the world. Not only is there destruction and loss of life, but the energy market isn't functioning normally. Oil and natural gas are commodities, so reduced supply leads to higher prices. You are already seeing the impact at the gas pump, but high energy prices will eventually raise the prices of other products, too. Here's what you need to know about what's happening and why companies like ExxonMobil ( XOM +1.81% ) and Chevron ( CVX +1.00% ) are likely to be the best energy investment options for most investors. Energy prices had been heading lower after Iran and the United States agreed to negotiate. However, those talks didn't work out as well as hoped, highlighted by U.S. President Donald Trump's announcement that Iran's ports would again face a blockade. Oil prices surged, and the broader market fell on the news. Emotions and news flow are driving commodity and stock markets. This is entirely normal.
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