Crude Oil Ramps Higher, Surging over 6% as the Tension of U.S. and Iran Increases!
WTI went up $2.89, or 5.4%, to $56.65/bbl, surging as much as 6% in the session while the global benchmark, Brent crude, gained $2.79 or 4.5% to $64.61/bbl.
Over the night, U.S.WTI crude went up $2.89, or 5.4%, to $56.65 a barrel after surging as much as 6% in the session while the global benchmark, Brent crude, gained $2.79 or 4.5% to $64.61 a barrel.
The surge came after a report of Iran shot down an American drone on Thursday, a week after two tankers were targeted in the region. While the U.S. President Donald Trump warned the Islamic Republic that they had made a very big mistake to further the attack.
The drive in this hike was also by the contamination of Russian’s oil crisis that had an unexpected resurgence as Poland briefly halted crude imports via the Druzhba pipeline after detecting high levels of chemicals.
Citigroup said that Brent is a “coiled spring” and may surge to $75 a barrel on improving fundamentals, rising Mideast tensions and financial positioning.
The listed companies in the Thai stock market that always move in the same direction as Brent and WTI are PTT, PTTGC, ESSO, TOP, BCP, BCPG.
