Oil prices have risen in response to the Israel-Iran war, bringing them nearly back to the levels where they traded before the Liberation Day tariffs were announced on April 2. Oil stocks are trailing well behind.

U.S. stocks rose Monday despite escalating attacks between Israel and Iran. The Dow, S&P 500, and Nasdaq all ended higher after falling Friday. The price of crude oil also fell almost 2% after a report claimed Iran is looking to negotiate with Israel to end the conflict.