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Crude Oil Prices Soar on Escalation of US-Iran Hostilities

Energy Markets & PricesCommodities & Raw MaterialsGeopolitics & War

WTI crude oil (CLQ26) closed up +5.23 (+7.41%) to a 2-week high, while RBOB gasoline (RBQ26) rose +0.1956 (+6.62%) to a 1-month high. The move is attributed to an escalation in geopolitical tensions, driving a sharp jump in energy prices.

Analysis

WTI crude oil (CLQ26) closed up +5.23 (+7.41%) to a 2-week high, while RBOB gasoline (RBQ26) rose +0.1956 (+6.62%) to a 1-month high. The move is attributed to an escalation in geopolitical tensions, driving a sharp jump in energy prices.

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