Warning: Oil Just Jumped $9.80 This Morning

We’re going to feel this in the wallet.

Oil is now up nearly $10 a barrel – and it could get worse.

All as Russia continues its attack on Ukraine.

“The situation in energy markets is very serious and demands our full attention,” IEA executive director Fatih Birol said, as quoted by CNBC. “Global energy security is under threat, putting the world economy at risk during a fragile stage of the recovery.”

Unfortunately, that $10 jump may not be the worst of it.

There’s also fear the war could send crude to $130, even $150, near-term. Coupled with tight crude supply with growing demand, and we’re running into a severe problem.

In addition, “The oil market is heading for simultaneously low inventories, low spare capacity and still low investment,” Morgan Stanley analysts wrote in a research note, lifting their price forecast for the summer quarter by $10 a barrel, to $100 for Brent and $97.50 for West Texas Intermediate,” as noted by The Wall Street Journal.

With that, some of the best ways to trade oil is with stocks, such as XOM and CVX. Or, you can trade oil-related ETFs, such as the XLE and DBO.  Or, you can invest in green energy stocks, like FSLR, SPWR, and even RUN.