The latest flare-up in U.S.-Iran relations could bring about the end of the longest bull market ever if crude prices keep surging, history shows.
Oil could be a problem for the stock market if prices keep rising after the latest escalation in U.S.-Iran relations.Crude jumped after the U.S. confirmed the killing of a top Iranian military official.
"One of the things that can derail a bull market is a spike in oil prices that can cause a recession," said Paul Hickey, co-founder of Bespoke Investment Group. "When you have higher oil prices, that's going to impact a key cost for a lot of different businesses." However, supply is tighter as of late and oil prices seem to be breaking out in the last three months.
" by the U.S. Iranian Defense Minister Amir Hatami reportedly said "a crushing revenge will be taken" for Soleimani's death.To be sure, the U.S. stock market took the news with relative ease. After a big drop at Friday's open, the major averages were all down less than 1%.
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