Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMatt DiLallo, The Motley FoolMon, June 29, 2026 at 8:35 PM GMT+2 5 min readThe U.S. and Iran traded shots over the weekend. Iran attacked a couple of ships in the Strait of Hormuz in the past week. The U.S. military retaliated over the weekend, launching strikes on targets in Iran. However, both sides agreed to halt their hostilities and are reportedly meeting in Qatar this week to work towards a permanent peace deal.Oil prices have had a relatively muted reaction to the renewed hostilities. Both Brent oil (the global oil benchmark) and WTI (the U.S. oil benchmark) were up about 2% on Monday, with WTI regaining the $70-a-barrel level while Brent is approaching $75. Here's a look at what this means for energy investors.Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »Images source: Getty Images.All eyes on the StraitWhen the U.S. and Iran signed their Memorandum of Understanding (MOU) to implement a 60-day ceasefire earlier this month, Iran was to allow the safe passage of commercial ships through the Strait of Hormuz with no charge during that period. However, instead of abiding by the agreement, Iran has continued to threaten commercial traffic in the Strait, including launching drones that have struck a couple of ships.As a result, traffic through the Strait has slowed down considerably after an initial spike. However, Middle East energy producers are still loading oil and liquefied natural gas (LNG) on ships, with Saudi Arabia resuming crude oil loadings at its Ras Tanura terminal for the first time in four months.Getting more Persian Gulf oil and LNG to global markets is crucial, given the among of inventory the global economy has burned through since the war began. For example, oil storage in the key U.S. hub in Cushing, Oklahoma (one of the largest in the world), fell to 19 million barrels, its lowest level since 2014 and below the minimum for normal operations. Meanwhile, the U.S. Strategic Petroleum Reserve is down to 331.2 million barrels, its lowest level in more than 40 years.What this means for energy stocksThe continued Iranian attacks on ships attempting to transit the Strait of Hormuz are delaying the global energy market's recovery. While energy market watchers believe Persian Gulf oil exports can quickly rebound to at least 75% of their pre-war levels, others believe the continued uncertainty will curtail the recovery. That could keep oil prices elevated in the coming weeks while the U.S. and Iran work towards a more permanent peace deal. There's continued concern that low inventory levels could cause another spike in oil prices.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info