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Barchart
Barchart
Rich Asplund

YOU WONT BELIEVE: Geopolitical risks underpin crude oil prices - You Need To See This

Oil OPEC United States Donald Trump EIA Iran IEA

February WTI crude oil (CLG26) on Tuesday closed up +1.65 (+2.77%), and February RBOB gasoline (RBG26) closed up +0.0327 (+1.82%).

Crude oil and gasoline prices rallied sharply on Tuesday, with crude posting a 2.25-month high and gasoline posting a 5-week high.  Crude prices surged on Tuesday after President Trump ramped up rhetoric over Iran, heightening concerns about oil supply disruption in OPEC's fourth-biggest producer.  Crude prices are also moving higher due to drone attacks that have led to disruptions at the Caspian Pipeline Consortium terminal that loads Kazakh oil into tankers along Russia's Baltic Coast.  

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