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Texas oil rises 3.1% after escalating tension with Iran

Texas oil rises 3.1% after escalating tension with Iran


The price of Texas intermediate oil (WTI) closed Friday with a sharp rise of 3.1% and stood at $ 63.05 a barrel, due to the US attack last night in Baghdad in which the commander of the Quds Force of the Guardians of the Iranian Revolution, Qasem Soleimaní, died.

At the end of the live operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in February totaled $ 1.87 compared to the previous session.

Texas opened the session with a higher rise, around 3.60%, and during the day its price reached $ 64, at levels not seen since last April.

The death of Soleimaní has ​​aroused fear among the US allies of a new war in the Middle East and has caused the rise in oil prices, with Brent revaluing 3.54% today at the close, as well as falls in the markets of all the world.

The Pentagon announced Thursday night the death in a drone attack of Soleimaní at Baghdad International Airport, and justified it by ensuring that the Iranian general was developing plans to attack US diplomats and service members in Iraq and throughout the region.

After the attack, the supreme leader of the Islamic Revolution of Iran, Ayatollah Ali Khamenei, promised revenge against those who murdered Soleimaní.

The chief geopolitical risk analyst at S&P Global Platts, Paul Sheldon, said in a note that Iran is expected to retaliate for the attack, although “the chances of a wider conflict are below 50%.

“Iran’s reprisals could take the form of a rapid response from its envoys against US allies and assets,” said Sheldon, who added the possibility of “incidents focused on oil flows in the Gulf. “and” infrastructure attacks. “

On the other hand, the US Energy Information Administration reported Friday that crude oil reserves fell 11.5 million barrels the week ended December 27, well above what analysts expected.

Private firm Baker Hughes also reported today that the number of active US oil platforms fell by seven units this week, to 670.

Gasoline futures contracts due in February rose more than four cents, up to $ 1.75 a gallon, and natural gas contracts, expiring the same month, rose almost a penny, up to $ 2.13 per thousand feet cubic.

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