Walt Crenzler
Iran’s promised retaliation for America’s non-war assassination of one of their military leaders has had one other consequence: oil prices are surging.
Global markets stabilized around oil for over a year, with prices in many locations translating between $2 and $3 a gallon for US consumers.
With a war between Iran and the United States now seeming inevitable, markets have already started to response by oil prices surging to $65/barrel.
Iran maintains the missile strike today was nothing compared to 13 different doomsday scenarios it plans to unleash in the coming weeks.
Iran’s government issued a message from the capital city of Tehran, that it’s planning to unleash a ‘historic nightmare’.
Fearing that Iran’s plans will destroy oil supplies from the Middle East, oil futures have already climbed 7% since Trump ordered US forces to assassinate General Qassem Soleimani.
There is no actual disruption to oil production or flow at this moment, yet markets are already vexed and responding to the chance of impedement.
Market strategists warn that the oil market will natural intensify its responsiveness to supply risk. This means oil prices will soar higher as futures predict decreasing supplies of oil.
