Oil Prices Spike Most In 5 Months As US-Iran Tensions Soar

WTI and Brent prices spiked overnight on the headlines about a US drone being shot down by Iran, and just legged higher once again following Trump’s tweet warning that “Iran made a very big mistake.”

“Geopolitics is helping oil bulls to make a spectacular come-back after a few days’ of directionless trading,” said Tamas Varga, an analyst at PVM Oil Associates Ltd. in London.

WTI now trades at its highest since May.

This is the biggest one-day jump since the first week of January.

Oil prices are also supported by a slump in the U.S. dollar.

Will this surge in oil prices mess up the goldilocks narrative of lowflation that The Fed is banking on?

Source Article from http://feedproxy.google.com/~r/zerohedge/feed/~3/Br53vYQkEeE/oil-prices-spike-most-5-months-us-iran-tensions-soar

Related Posts
Press TV – France Britain, and Germany have called for the resumption of dialog and
IRNA – Iranian Ambassador to France Bahram Qasemi emphasized the fact that diplomacy and negotiations
On this week’s SUNDAY WIRE, host Patrick Henningsen speaks with leading Middle East and Asia
New ACCC reports are set to change online content. Photo: YIJ An ongoing campaign to
World leaders converged on Osaka, Japan, on Thursday for a summit of the Group of

Hits: 87

You can leave a response, or trackback from your own site.

Leave a Reply

*

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes