Oil prices vary amid US Iran tensions
Tension between the United States and Iran caused oil prices to fluctuate today. Futures for Brent crude rose to $92.22 per barrel before falling to $90.87, while West Texas Intermediate crude climbed to $84.9 before retreating to $84.2. The increases were supported by U.S. threats of bombing Iran and the American and Saudi responses, which included strikes in Iraq targeting sites loyal to Iran, following missile attacks on American bases in Jordan. Meanwhile, the Caspian Pipeline Consortium suspended oil loading operations after a drone attack on a tanker. Investors are also closely watching the possibility of a diplomatic resolution that could ease tensions and lead to a resumption of oil flows through the Strait of Hormuz.
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