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US forces struck three Iranian crude tankers after the IRGC fired ballistic missiles at two US Navy warships. US Central Command said it disabled two tankers and destroyed a third, and US officials warned they could target more Iranian tankers.
Attacks on tankers raise the risk of further losses of Gulf crude supply and higher shipping insurance costs. This supports crude prices and raises the cost of fuel and freight for feed buyers.
tradearabia.comWASHINGTONMar 9, 2018After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
