""Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump said in a post on his social media platform, Truth Social, as highlighted by CNBC."
""With no end to the war with Iran in sight, there's a good chance oil could gush even higher. While that's not good for consumers, it's great news for oil investors in stocks like Exxon Mobil, Chevron, and Occidental Petroleum.""
""SPDR Energy Select Sector ETF (XLE): With an expense ratio of 0.09%, the XLE ETF provides exposure to companies in the oil, gas, and consumable fuels, energy equipment, and services industries, as noted by State Street SPDR.""
The U.S. and Iran remain in conflict, leading to rising oil prices and market declines. The S&P 500, Dow, and Nasdaq are all down. President Trump announced a blockade of the Strait of Hormuz, aiming to prevent Iran from profiting from its actions. This situation presents opportunities for oil investors, particularly in companies like Exxon Mobil and Chevron, as well as ETFs like SPDR Energy Select Sector ETF and SPDR S&P Oil & Gas Exploration & Production ETF, which offer diversified exposure to the energy sector.
Read at 24/7 Wall St.
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