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Oil prices climbed near $100 a barrel after U.S. forces destroyed five Iranian tankers following an attack on an American warship. These rising tensions in the Middle East often lead to higher energy prices due to fears of supply disruptions.
For a holding company like this, higher oil prices are generally a plus. It owns Boardwalk Pipelines, which transports natural gas, and higher energy prices typically increase the value of energy infrastructure and the demand for storage and transport services.
Source: CNBC