Oil Market Boom from US-Iran War May Be Short-Lived

The recent US-Iran war has led to a significant boom in the oil market, resulting in massive profits for investors who targeted energy sector stocks.

ExxonMobil and Chevron reported quarterly profits that surged due to the war's impact on oil prices, with Exxon's profits doubling year-over-year to $14.5 billion and Chevron's net income increasing close to 400%.

The US crude oil futures averaged over $92 per barrel for the quarter, a 27% increase from the previous year.

Investing experts warn that sitting on these gains for too long could be a mistake, as oil prices have been turbulent this year and may not continue to rise.