Oil climbs to session highs as optimism kicks off US week

Oil up 1.7%

WTI crude is at a three-day high at $55.81. It’s up 1.7% as it attempts to shake off some of Wednesday’s drop.

The gain is a bit more impressive than it looks given the backdrop. Gibraltar released the Iranian tanker yesterday in a de-escalation of tensions.

The ship is headed east into the Mediterranean and has changed its name to Adrian Darya 1 and is sailing with an Iranian flag. The US is warning that it will sanction any country that deals with Iran. Its currently indicated to be heading to the Greek port of Kalamata but that will probably change because that port isn’t large enough to handle the ship.


Articles You May Like

FX option expiries for Friday September 20 for the 10am NY cut
Japan’s foreign minister says confirmation of no new levies on autos needed before signing trade deal
Global currency trading volumes surge to highest-ever level
LIVE Forex Trading – NewYork Session 5th September 2019
PBOC sets USD/ CNY reference rate for today at 7.0657

Leave a Reply

Your email address will not be published. Required fields are marked *