Stock futures were falling Tuesday and oil prices rose as Israel and Iran continued to exchange missile attacks and President Donald Trump in social-media posts urged an immediate evacuation of Tehran.

Right now, Chevron ( CVX 0.14%) is one high-yield energy laggard that is worth buying and holding for the long term. The first thing that investors need to understand is that oil prices can rise and fall in often dramatic, and swift, fashion. Even when the moves aren't rapid, they can still be material.

The rally came as oil prices retreated from recent highs amid reports that Iran seeks to de-escalate tensions with Israel.