Oil Traders Lose Faith in Geopolitical Rallies

Escalating tensions in the Middle East are boosting oil prices, but some investors are skeptical the rally has legs after other recent geopolitical flare-ups in the market quickly eased.

Crude futures shot up as much as 4.9% Friday after President Trump ordered a strike in Baghdad that killed Iranian Maj. Gen. Qassem Soleimani. A top Iraqi paramilitary commander, Abu Mahdi al-Mohandes, also died.

Source: The Wall Street Journal

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Keywords:

Geopolitics • Demonstration (protest) • Middle East • Price of oil • Demonstration (protest) • Geopolitics • Gas flare • Petroleum • Donald Trump • Strike action • Baghdad • Iranian peoples • Major general • Qasem Soleimani • Iraq • Paramilitary • Arab League •