For years, Warren Buffett has continued to pile into one popular U.S.-based oil stock. That oil stock now comprises roughly 4% of Berkshire Hathaway's entire publicly traded portfolio. Now that oil prices are surging,

Dow, S&P 500, and Nasdaq futures are falling in premarket trading as the stock market deals with surging oil prices amid the war in Iran.

History shows us that oil price spikes caused by geopolitical events tend to be relatively short-lived.

The cruise sector is getting hit hard today. Royal Caribbean Cruises (NYSE:RCL) is leading the damage among the major operators, with RCL stock falling 6% to less than $270 as of midday Thursday. It is the latest blow in a sector-wide selloff that has been grinding shares lower all week.

Tom Lee, head of research at Fundstrat, is known for being resolutely bullish. And in his latest Macro Minute video he says that higher oil prices are actually good for U.S. equities. He has four reasons.

U.S. stocks sank after the price of oil spiked to its highest level since 2024. The S&P 500 fell 0.6% Thursday.

US stocks recovered losses Monday and oil prices plummeted after settling at their highest level since 2022, as the war with Iran continued to roil markets.

The price of oil surged more than 15% Monday, as the effects of the Iran war hit markets worldwide and stoke fresh worries about inflation.U.S.

U.S. stocks rose following a remarkable reversal, as oil prices went from their highest prices since 2022 back below $90 per barrel.

New attacks signal the Iran war is widening across the Middle East to further threaten disruption to energy supplies.