Oil prices could spike as much as 15 dollars a barrel if US-Iran conflict moves from 'rhetoric to action'

[Yo_Mama_Been_Loggin]

Oil prices have re-crested their highest levels since last summer as traders closely watch the potential for a military strike by the United States against Iran. Where they go from here, according to analysts and oil market experts, depends on whether rhetoric from the Trump administration turns into action.

Futures on Brent crude (BZ=F), the international pricing benchmark, and US benchmark West Texas Intermediate crude (CL=F) both rose around 2% to trade above $71.90 and $66.50 on Thursday, respectively.

The US and Iran are engaged in active talks on a new agreement that would severely limit Iran's ability to both enrich and hold uranium to the levels needed to create nuclear weapons, though Trump said in a Truth Social post at the end of January that the US armada in the Middle East is "ready, willing, and able to rapidly fulfill its mission, with speed and violence."

"In normal circumstances, such a scenario would dominate global financial headlines," Capital analyst Daniela Hathorn said in a note to clients Thursday. "This complacency raises the risk of a sharp repricing event. If tensions move from rhetoric to action, oil could spike rapidly."

https://finance.yahoo.com/news/oil-prices-could-spike-as-much-as-15-dollars-a-barrel-if-us-iran-conflict-moves-from-rhetoric-to-action-184221833.html

[chicoescuela]

1. Another dollar a gallon? It won't have any impact on the economy.

Jobs for non immigrants will swell and the GDP will hit 15%, just ask tsf new BLS team.