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Commodities

Oil Prices Skyrocket Amid Escalating Tensions with Iran

Guavy AI Editorial Team
Instruments
Oil Natural Gas
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Natural Gas is losing ground as traders react to the EIA Weekly Natural Gas Storage report. The report showed that working gas in storage increased by +64 Bcf from the previous week, matching analyst consensus.

WTI oil gained strong upside momentum after President Trump suggested the U.S. could ramp up bombing of Iran after the November midterm elections.

Brent oil rallied above the psychologically important $100.00 level as traders focused on Trump's comments and feared a deterioration in the Middle East situation.

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