Crude oil prices fluctuated in April amid rising geopolitical risks. Fears of a spillover conflict in the Middle East have led some market observers to predict oil prices could skyrocket to $100 a barrel and beyond. Iran launched more than 300 drones and missiles at military targets in Israel on Saturday, marking the first direct attack on the Jewish state from Iranian territory. While the oil market remains relatively calm after the recent airstrike, a significant Israeli retaliation could send oil prices soaring, according to Bartosz Sawicki, market analyst at Conotoxia. Iran is home to vast petroleum resources and is ranked as the third largest producer in the Organization of Petroleum Exporting Countries. Any disruption in supply capacity to the global market could send oil prices higher, analysts told CNBC. Andy Lipow, president of Lipow Oil, said: “Any attack on oil production or export facilities in Iran would push Brent crude prices to $100 and the closure of the Strait of Hormuz would cause prices to rise. fluctuates between 120 USD and 130 USD. Partner. CNBC Pro has screened stocks in the MSCI World Energy Index that have been highly or negatively correlated with the international benchmark Brent crude oil price over the past week, month and year. Oil and gas stocks are inversely correlated with crude oil prices which will allow investors to withstand any volatility while remaining invested in the sector. In the tables below, a correlation of 1 means that as oil prices rise or fall, stock prices also move incrementally, in the same direction. Conversely, a negative 1 means the price is completely in sync in the opposite direction. A correlation coefficient of 0 means there is no relationship between crude oil prices and stock prices. – CNBC’s Lee Ying Shan and Jenni Reid contributed to this report.