WTI Crude Oil Continues to Trade Bullish Over US-Iran Tensions - Forex News by FX Leaders

WTI Crude Oil Continues to Trade Bullish Over US-Iran Tensions

Posted Monday, June 24, 2019 by
Arslan Butt • 1 min read

On Monday, WTI crude oil prices continued their climb higher over escalated tensions between the US and Iran. At the time of writing, WTI is trading at around $57.78 per barrel.

The situation in the Middle East has escalated following the most recent attack on two oil tankers in the region, which the US alleges was done by Iran. Following this incident, the US has deployed more troops in the Middle East.

According to some reports late last week, Trump nearly ordered a strike on Iran but called it off in the last hour after Iran’s Revolutionary Guards shot down a US drone. US Secretary of State Mike Pompeo has stated that the US government will be announcing “significant” sanctions against Iran on Monday in retaliation.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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