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Barchart
Barchart
Rich Asplund

THE TRUTH ABOUT: Geopolitical risks support crude oil prices - Caught on Camera

Oil United States EIA OPEC Iran Axios Russia Ukraine Wall Street Journal

March WTI crude oil (CLH26) on Wednesday closed up +0.67 (+1.05%), and March RBOB gasoline (RBH26) closed up +0.0197 (+1.01%).

Crude oil and gasoline prices settled higher on Wednesday, with crude posting a 1.5-week high and gasoline posting a 2.75-month high.  Escalating US-Iran tensions are underpinning crude prices after the Wall Street Journal on Wednesday said the US is considering seizing tankers with Iranian crude, and Axios reported that the US could send a second aircraft carrier strike group to the Middle East should nuclear talks with Iran fail.   Crude prices fell from their best levels on Wednesday after weekly EIA crude and gasoline inventories rose more than expected.  

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