Here's Why Oil Prices Are Surging Right Now
The news headlines are filled with moment-by-moment coverage of the current geopolitical conflict in the Middle East. And oil price volatility, as you might expect, has dramatically increased. If you are a long-term investor, you need to consider this issue in a broader context. And that context highlights why most investors should stick with diversified energy industry giants like ExxonMobil (NYSE: XOM) and (NYSE: CVX).
It seems fairly obvious that oil prices have spiked and fallen entirely because of news surrounding the geopolitical conflict in the Middle East. And, to some extent, that is absolutely true. However, before this conflict, there was uncertainty surrounding the unfolding geopolitical events in Venezuela, which came and went.
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Source Fool.com
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