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Rich Asplund

UNCOVERED: Crude prices supported by rising middle east tensions - The Untold Story

Oil United States OPEC Donald Trump Israel Middle East Hamas Vortexa

April WTI crude oil (CLJ25) today is up +0.06 (+0.09%), and April RBOB gasoline (RBJ25) is up +0.011 (+0.05%).

Crude oil and gasoline prices today climbed to 2-week highs and are slightly higher. Ramped up tensions in the Middle East are boosting crude prices after Israel launched a series of airstrikes across Gaza today. Also, the US is launching strikes against Houthi Rebels in Yemen for attacking shipping in the Red Sea. Today's stronger-than-expected global economic news is also supportive for crude prices. Gains in crude were limited by a stronger dollar and hopes for a ceasefire in Ukraine, with President Trump set to speak with Russian President Putin later today as Mr. Trump pushes for an end to the three-year conflict.

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