Paul Tudor Jones says oil could climb another $20 to $25 if the U.S.-Iran conflict persists, a move he says would hurt equities. He also expects the issue to remain unresolved before the U.S. midterms.
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01Summary
- 01Paul Tudor Jones said on CNBC's 'Squawk Box' that he is long oil and bullish on it.
- 02He said oil could rally another $20 to $25 from current levels because of the U.S.-Iran conflict.
- 03West Texas Intermediate crude was trading at around $92.50 on Tuesday morning.
- 04Jones said a further oil rally would 'absolutely totally' be bad for the equity market.
- 05He said he expects President Donald Trump to seek peace after the midterm elections.
02Why it matters
A sharp rise in oil could feed through to fuel costs and hit shares, especially if the conflict keeps energy markets volatile. Investors will also watch for any shift in U.S.-Iran tensions after the midterms.
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