Oil moving higher following report that US officials are expecting an imminent Iranian proxy missile strike on Israel.
Israel issued a warning to Iran threatening retaliation if Iran directly attacks Israel. In response, Israel made it clear to OPEC member Iran that any aggression towards Israel would be met with military action.
I sure hope that Team Biden has a plan to deal directly with Iran. If Israel attacks targets inside of Iran, it will get very serious in the entire region.
Why is WTI up this afternoon? - Apr 10
Why is WTI up this afternoon? - Apr 10
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Why is WTI up this afternoon? - Apr 10
Trading Economics:
"WTI crude futures climbed to settle at $86.21 per barrel on Wednesday, reversing earlier losses and snapping two days of falls, as oli market reacted to news from Gaza. Three sons of a Hamas leader were killed in an Israeli air strike, which can complicate the ceasefire talks. Tensions in the Middle East are red hot with Israel warning OPEC member Iran it would attack the Islamic Republic if Tehran strikes Israel and the U.S. is reportedly bracing for an “imminent” strike by Iran or its proxies against Israel. Oil prices fell earlier after the EIA reported a 5.841 million barrel surge in inventories, surpassing market expectations of a 2.366 million barrel rise."
"WTI crude futures climbed to settle at $86.21 per barrel on Wednesday, reversing earlier losses and snapping two days of falls, as oli market reacted to news from Gaza. Three sons of a Hamas leader were killed in an Israeli air strike, which can complicate the ceasefire talks. Tensions in the Middle East are red hot with Israel warning OPEC member Iran it would attack the Islamic Republic if Tehran strikes Israel and the U.S. is reportedly bracing for an “imminent” strike by Iran or its proxies against Israel. Oil prices fell earlier after the EIA reported a 5.841 million barrel surge in inventories, surpassing market expectations of a 2.366 million barrel rise."
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group