Oil Prices Surge as U.S. and Iran Exchange Strikes
Oil prices climbed in early Asian trade on Monday after the U.S. struck Iran for the first time in over a month, with Iran then retaliating against U.S. bases in Jordan. At the time of writing, WTI front-month futures were trading at $85.46 per barrel, up 2.47%, while Brent front-month futures had c
Source: OilPrice.com
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DW NOTE
WTI is trading at $83.40 and Brent at $88.10 as of this morning — both down more than 25% from their yearly highs despite the Strait remaining functionally closed since February. If direct U.S.–Iran strikes have truly begun, these prices are not surging. They are recovering from a collapse that never made sense.