I avoid long-term oil investments due to unpredictable price swings, but high implied volatility now creates an opportunity to sell options for

Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

This latest iteration of the Middle East crisis is both familiar and unfamiliar. We’re all back obsessing about the oil price, yet we also know from the last few years that that same oil price has appeared somewhat impervious — oblivious?

When the conflict began on June 13, it led to a significant surge in oil prices. But come June 17, and all gains have been erased. Oil, which was trading north of $75 on June 13, was quoted at $69.77 at press time.

ConocoPhillips is poised for growth amid rising oil prices with strong Q1 earnings and potential outperformance of major rivals. Learn more about COP stock here.