Oil Jumps on US-Iran Tensions (Market Trading)
January 3, 2020•124 words
#oil
Oil prices soared more than 4% and hit the highest since May 2019 on Friday, right after the Pentagon confirmed an Iranian Commander was killed during an air strike at the Baghdad International Airport on Trump's orders, raising concerns of an oil supply disruption in the Middle East. The strikes come after the US embassy in Iraq was attacked on Tuesday amid protests against airstrikes conducted by the US in Iraq and Syria. At 12:40 PM NY time, the US crude oil was up 2.6% to $62.69 a barrel, after hitting its highest since May 1st at $63.84 earlier in the session while the Brent crude gained 3.2% to $68.24 a barrel, after hitting its highest since May 29th at $69.16.