The Brent contract for oil touched a high of $70.74 a barrel, the highest since mid-September, when it briefly spiked over an attack on Saudi crude processing facilities. Stock markets were down as well amid fears of how Iran would fulfil a vow of "harsh retaliation."
Fears that Iran could strike back at oil and gas facilities important to the U.S. and its Persian Gulf allies stem from earlier attacks widely attributed to Iran. Compared to other methods of attack, targeting energy sites also "doesn't kill a lot of people," Krane said. "It's capital-intensive, it's not people-intensive. It's a safer option in terms of the virulence of reprisal."
Brent crude was up $1.02 at $69.62 a barrel, having rise almost 6% since before the Iranian general's killing.
as of 8.10am speculators will make a lot of money notice the price of Canadian oil WTI Crude 63.71+0.66 Brent Crude 69.47+0.87 Western Canadian Select 40.00+1.87
CTV NEWS How about a report on TREUDEAU IRVING, his criminal ties and his family’s investment’s 🧐 tap tap tap I’ll wait⏱
Oil sands looking pretty good again Eh?