Oil Costs Hideaway After Multi-Month Highs In The Middle Of Iran Tensions
Oil prices dipped Friday after hitting multi-month highs, sustained by escalating tensions in between the U.S. and Iran. Threat premiums rose on anxieties that a possible U.S. strike on Iran might interrupt global oil supply, yet cooled as the day progressed.
- Brent Crude: Down 91 cents to $ 69 80/ barrel.
- WTI Crude: Declined $ 1 06 to $ 64 36/ barrel.
- Month-to-month Gains: Both criteria are still on track for their best month-to-month gains in years, with Brent up 14 7 % and WTI surging 12 % in January.
- Geopolitical Threat: Stress continue to be high, with ongoing conversations between U.S., Israeli, and Saudi authorities relating to Iran.
