Oil prices are moving again. That’s good news for energy stocks

News Snapshot:

Open this photo in gallery: Iran’s oil exports account for less than 2 per cent of global demand – and are largely shipped to China – while the rest of the world is currently blessed with excess capacity.Jeff McIntosh/The Canadian Press Investors initially reacted to Israel’s attack on Iran with a shrug, but they are now taking a more worried approach that is lifting the prospects for Canadian energy stocks. The price of crude oil rallied 4.7 per cent on Tuesday afternoon, to US$73.52 a barrel. That’s the highest price for West Texas Intermediate, the U.S. benchmark for crude, since...