๐ข๏ธ WTI crude rips +5% to ~$74 as US-Iran ceasefire collapses โ $XOM $CVX heating up
The fragile US-Iran ceasefire crumbled over the weekend, with renewed strikes near the Strait of Hormuz โ a chokepoint that handles roughly 20% of global oil supply. WTI crude surged about 5% to around $74/barrel in overnight trading, pushing energy majors Exxon Mobil (XOM) and Chevron (CVX) higher while Nasdaq 100 futures are down 0.8%. Energy is shaping up as the early flight-to-momentum trade this Monday morning. Not financial advice. Are you rotating into oil & gas here or staying patient?
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