WTI Dips Below $70 a Barrel Despite Continued Confusion in the Strait of Hormuz. Are Oil Stocks Still Worth Buying Now?

WTI, the primary U.S. oil price benchmark, fell about 4% by mid-afternoon Friday. That pushed its price below $70 a barrel. The crude price decline came even though Iran attacked a cargo ship near the coast of Oman in the Strait of Hormuz, while also recently ordering three oil tankers to turn back, causing confusion about the status of that key global trade route. With WTI dipping below $70 a barrel, it begs the question of whether now’s a good time to buy oil stocks. Here’s a look at the current market environment.Image source: Getty Images. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool