Hedge fund manager and notable commodity trader Paul Tudor Jones says oil is set to take another leg higher because of the U.S.-Iran conflict . "I am long oil... bullish oil...I think it can rally another $20 or $25 bucks," said Tudor Jones, founder and chief investment officer of Tudor Investment, on CNBC's "Squawk Box." "If something to ameliorate the situation was going to happen, it would have happened already before the midterms." A rally of that size in U.S. oil prices from current levels would send them above their previous closing high for 2026 of just under $113 per barrel. Western Texas Intermediate crude futures were trading at around $92.50 Tuesday morning.
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