Iran Just Launched a Surprise Missile Attack on U.S. Forces, Ending the Ceasefire Lull. Here's What It Means for Oil Stocks.
Oil stock prices should go up in response, but this time there's a catch...
Overview
Oil prices have surged back above $90/barrel after Iran launched a surprise attack on U.S. forces in the Middle East on Wednesday morning. Further increases were expected as President Trump vowed to retaliate against Iran for the ballistic missile attack on a U.S. military base in Jordan.
“We’ll be hitting them hard. They’re going to get a beating,” Trump told Fox News in an interview.
Details
Benchmark Brent Crude futures, which briefly topped $100/barrel last week following the collapse of the U.S.-Iran ceasefire, had been falling in recent days as the U.S. paused its bombing campaign to reassess its strategy. On Tuesday, they hit a two-week low of $84.09.
Source
Originally published at www.fool.com.
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