CNBC Pro screened for stocks that are highly correlated with Brent crude oil prices.
Crude oil prices have been volatile in April amid heightened geopolitical risks. Fears of a spillover conflict in the Middle East have led some market watchers to predict oil prices could soar to $100 per barrel and beyond . Iran launched more than 300 drones and missiles against military targets in Israel on Saturday, marking the first direct attack on the Jewish state from Iranian territory.
. "Any attack on oil production or export facilities in Iran would drive the price of Brent crude oil to $100, and the closure of the Strait of Hormuz would lead to prices in the $120 to $130 range," said Andy Lipow, president of Lipow Oil Associates. Pro screened for stocks in the MSCI World Energy Index that are both highly correlated or inversely correlated with international benchmark Brent crude oil prices over the past week, month, and year. Oil and gas stocks that show a negative correlation with crude oil prices will enable investors to withstand any volatility while remaining invested in the sector.
's Lee Ying Shan and Jenni Reid contributed to this report.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Iran-Israel live updates: Iran tells UN Israel attack was 'self-defence'World powers urge restraint for fear that Iran's unprecedented missile and drone strikes on Israel could spark a wider war in the Middle East.
Read more »
Crude oil futures rise as Israel threatens to attack IranCrude oil futures rose Wednesday after two days of losses as Israel threatened to attack Iran if the Islamic Republic strikes Israel directly. Oil prices pulled back after the consumer price index rose 0.4% for March and 3.5% over the previous year, compared with expected gains of 0.3% and 3.4%, respectively. Israel warned OPEC member Iran Wednesday it would attack the Islamic Republic if Tehran strikes Israel."If Iran attacks from its territory, Israel will react and attack Iran," Israeli Foreign Minister Israel Katz said on theEnergy, the new momentum trade? Why the sector’s strong gains can increase from hereMorgan Stanley says the catch-up trade in energy can continue and names its top picks to play JPMorgan says oil could rise to nearly $100 a barrel on Russia’s ‘surprising’ actions ahead of U.S. election Khamenei has threatened to punish Israel after Iran's consulate in Damascus, Syria, was destroyed in a missile attack last week, killing seven Iranian military officials
Read more »
Israel’s military chief says Israel will respond to Iran’s weekend missile attackIran launched hundreds of drones, ballistic missiles and cruise missiles at Israel in the attack, most of which were downed.
Read more »
Israel’s military chief says that Israel will respond to Iran’s weekend missile attackIsrael's military chief said Monday that his country will respond to Iran's weekend attack, but he did not elaborate on when and how as world leaders urged Israel not to retaliate.
Read more »
China: Iran’s 300 Missile and Drone Barrage on Israel ‘Restrained,’ Israel Should Not RespondSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Former US Ambassador to Israel: Israel Questions US Funding to Iran After Missile AttackFormer US Ambassador to Israel, David Friedman, stated that Israel needs to question the United States about its funding to Iran after the recent missile attack on Israel. Friedman also emphasized the need for a strong response from Israel and highlighted the support from other countries in defending Israel.
Read more »