Texas oil rises 11% amid fears of escalation in Iran after Trump's speech
Texas Intermediate Crude (WTI) surged this Thursday by 11%, reaching $111.54 a barrel, as investors fear an escalation of the war in the Middle East following US President Donald Trump's national address yesterday, Wednesday. At the end of the session, WTI futures contracts, the benchmark US crude, added $11.42 compared to the previous day's close.
TL;DR
- Texas Intermediate Crude (WTI) prices increased by 11%.
- The price per barrel reached $111.54.
- Investor fears of a Middle East war escalation are driving the price increase.
- The situation is linked to a national address by US President Donald Trump.
- WTI futures contracts rose by $11.42 compared to the previous day.