Orman says panic-selling stocks now when oil prices have surged over 50% would be the ultimate investment mistake

Em Norton

Wed, May 20, 2026 at 7:00 AM EDT 7 min read

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As the U.S. and Iran continue to negotiate a truce, global oil prices remain extremely volatile.

Following the announcement of a two-week ceasefire on April 8, global oil prices dropped below $100 before hovering back up around that benchmark a few days later (1), when Iran and the U.S. failed to reach a lasting truce.

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On April 15, TD Economics reported that “prices once again dropped around 5% as markets price in the potential for second-round talks (2).” That being said, West Texas Intermediate oil prices have surged more than 50% since the war began on February 28 (3).

With oil prices in such a state of flux, so too is the stock market, which took a big hit when the Iran war began. The market has since bounced back, as the S&P 500 is up 17% since March 30 (4).

However, as ceasefire negotiations continue to drag on, investors with cold feet may feel inclined to sell their stocks, but Suze Orman warns this could be a big mistake.

‘I’ve learned that lesson the hard way’

In a conversation on Orman’s YouTube channel, Orman and markets expert Keith Fitz-Gerald discussed the importance of resisting the urge to sell your stocks right now.

“Everybody who thinks they’re being smart by stepping out right now is going to get left behind,” Fitz-Gerald told Orman (5). “I’ve learned that lesson the hard way. I thought I was being smart, I bailed out, I made mistakes, I lost money.”

When Orman asked Fitz-Gerald to tell the viewers why selling stock right now would be a big mistake, he advised people to relax and look at the bigger picture.

“In the early 2000s, Amazon lost 97% of its value,” he shared. “That’s incomprehensible to people today; they simply forget their history. We’re going to get through this.”

If you can stick it out through tough financial times, you could benefit from gains that will likely come when the market bounces back, according to Orman and Fitz-Gerald.

Read More: Non-millionaires can now hoard property like the 1% — how to start with as little as $100

Investing during turbulent times

Jaime Dimon, CEO of JPMorganChase, recently warned that a 2026 recession could be looming, citing both the war in Iran and the uptick in artificial intelligence as potential causes.