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Oil prices surge past $100 amid Iran war, boosting big energy stocks but adding market uncertainty

Market News
23 Mar 2026
24/7 Wall Street
View Source
Bullish
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The Iran war has triggered a sharp rise in oil prices, pushing them above $100 and putting pressure on broad markets already in correction. This spike has renewed interest in big energy stocks, which could benefit from higher dividends if elevated prices persist. However, the situation remains volatile with risks of further price swings and geopolitical tensions, making energy ETFs like the State Street Energy Select Sector SPDR a popular but risky play. Investors should prepare for continued market turbulence while considering gradual exposure to energy amid uncertain oil price trends.

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