Oil futures rise as traders await decision on reserves

Oil futures rose as traders awaited a potential historic release of emergency government reserves aimed at offsetting supply disruption from an attack on Iran. The prospect of a large reserve release could cap near-term price spikes but overall leaves oil markets volatile and sensitive to further geopolitical developments.

Analysis

Oil futures rose as traders awaited a potential historic release of emergency government reserves aimed at offsetting supply disruption from an attack on Iran. The prospect of a large reserve release could cap near-term price spikes but overall leaves oil markets volatile and sensitive to further geopolitical developments.