The crude oil prices are going to go up and go as president
Trump have shown himself as an interventionist than a isolationist President
and there is going to be major chess games in Middle-East now. Iran is keep an
eye and Iran knows that it is under the American radar and anything can happen.
Iran is going to start threatening the countries around Persian Gulf. About 20% of the world's petroleum (about 35% of the
petroleum traded by sea) passes through the Straits of Hormuz, making it a
highly important strategic location for international trade . It is within the
range of Iranian weapons. Words itself will scare the crude oil prices out of
its shadows and into higher prices.
Let see what happens in the Months of April and May
Read more about Straits of Hormuz here
Crude oil breaks higher again
Crude oil prices are moving higher to start the week off. A strong level of demand and continued global uncertainty after the U.S. missile strike in Syria have traders in a buying mood.
WTI crude oil futures +0.75% to $52.63/bbl at last check. Brent crude +0.85% to $55.71/bbl.
U.S. gasoline prices sit at their highest level in eight months. The most recent data from Lundberg Survey showed an average of $2.4327 per gallon, while AAA reported an average price at the pump of $2.389 per gallon.
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