Oil prices gave up all the earlier gains to trade nearly flat on Monday as investors appear to shrug-off geopolitical tensions in the Middle East. Oil prices gained more than 2% early in the session, extending Friday's more-than-3% jump. The US crude touched $63.97 a barrel, the highest since April 25th and the Brent crude $70 a barrel, the highest since May 28th during early trading hours in Europe. However, the US crude was down 0.4% to $62.49 a barrel and the Brent one fell 0.3% to $68.53 around 4:00 PM NY time.
Probably flat just because Iran did not launch a major attack today. My guess is that they will eventually.
Oil Price - Jan 6
Oil Price - Jan 6
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group