Oil Prices Spike After Gulf of Oman Tanker Incident | WHAT REALLY HAPPENED

Oil Prices Spike After Gulf of Oman Tanker Incident

Oil prices spiked on Thursday after two vessels were seemingly attacked in the Gulf of Oman, one of the world’s most important shipping lanes.

Fears of military conflict between Washington and Tehran in the aftermath of the incident involving The Front Altair and the Kokuka Courageous tankers sent the oil price up over 4.5%, with Brent crude hitting $62.64 per barrel and US crude touching $53.45, dragging oil away from the five-month lows struck last night.

Webmaster's Commentary: 

This was perfectly predictable, given the tensions in the region.

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