Raleigh, NC -- (SBWIRE) -- 03/07/2012 -- With the recent spike in oil prices of over 10% from February 7th to 22nd, the price to buy a barrel has risen from $96 to over $106 [New York Mercantile Exchange]. This rapid rise was driven mostly by increasing tensions between America and Iran, according to the Associated Foreign Press (AFP).

The AFP mentions that, "Oil prices are firming on concerns about rising tensions between the West and Iran." The AFP goes on to report that Iran has threatened to block the Straight of Hormuz, a vital oil transportation route, and possibly disallow certain countries, like Greece and Italy, from being allowed to buy Iranian oil. This would be in addition to the UK and France, who are already not allowed to buy from Iran, based on the Iranian regime's recent "reverse - blockade" actions.

"In times of uncertainty," states Peter Leeds, author of "Invest in Penny Stocks," and editor of the Penny Stocks to Buy newsletter, "their are lots of buy opportunities. As a result of the spiking oil prices, my penny stocks analysis team has uncovered dozens of penny stocks to buy which should do well for investors who buy at these prices."

Leeds elaborates by indicating he has profiled the best oil services and production penny stocks to buy for subscribers of his penny stocks newsletter, as a result of the oil price spike. "Higher costs to buy oil will slow the overall economy, but it will benefit some penny stocks that make their revenues from oil, or services related to the oil production and logistics industries."

Leeds cautions that penny stocks are not for everyone. Before an investor makes their first buy, they should make sure they buy only the right type of penny stocks, like the ones he profiles for his newsletter subscribers.

To learn more about the types of penny stocks Leeds is profiling for his subscribers to buy, and take a free trial to the Penny Stocks to Buy newsletter, you can visit online.

Peter Leeds and his team take no compensation from the penny stocks they profile, and remind investors that all buy and sell decisions must be theirs alone.

About Peter Leeds
The authority on which penny stocks to buy, Peter Leeds is a widely followed penny stocks expert and analyst. He has written for Forbes, authored "Invest in Penny Stocks" (John Wiley & Sons), and publishes the world famous Peter Leeds Penny Stocks to Buy newsletter.

About the Penny Stocks to Buy Newsletter
Published at http//pennystocks.com, the Penny Stocks to Buy newsletter is one of the most popular financial publications in North America, and is the leading penny stocks newsletter worldwide.