Oil Prices Soar as US-Iran Conflict Expands to Red Sea
September WTI crude oil (CLU26 ) on Thursday closed up +5.36 (+6.17%), and September RBOB gasoline (RBU26 ) closed up +0.0793 (+2.44%). WTI crude oil prices (CLU26 ) rallied more than +6% on Thursday after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers...
Quick take
Read original at Yahoo Finance WTI crude oil prices rallied over 6% after Iran-backed Houthis attacked Saudi Arabian oil tankers in the Red Sea. President Trump is considering a massive attack in response, with crude prices also supported by reduced Russian oil production due to Ukrainian drone attacks. Global crude oil supplies are tightening amid the conflicts.
Summarised by netranta from Yahoo Finance. Open the original for the full story.
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