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Oil plummets to its lows of the day after President Trump says Iran ‘appears to be standing down’ in the Middle East
The fall erased all earlier gains from a spike in oil prices early Wednesday following an Iranian missile attack on US forces in Iraq.
Oil’s wild ride: Here’s why the precious resource is now trading lower after spiking 5% on Iran’s missile attacks
Prices reversed when a US statement said the attack caused no casualties, and President Donald Trump tweeted that "all is well" after the incident.
Since the conflict in the Middle East started, Brent crude has gained $4, Hussein Sayed, chief market strategist at FXTM wrote in a note early Monday.
The attack on Saudi oil supplies threatens what could be the world’s biggest IPO. Here’s what we know about Saudi Aramco.
"The attacks came at a sensitive time for Aramco. The company could see its IPO valuation pulled lower as it prepares to go public," says on analyst.
Iran is squirrelling millions of barrels of crude oil in Chinese ports to avoid breaching US sanctions
Iran is safely storing its crude and freeing up its tankers, while China can tap the stockpile if supply is disrupted or sanctions end.
Oil is being propped up by Middle East tensions after the US used video to blame Iran for tanker attacks
Oil prices on Friday were pushed and pulled between competing drivers of Iran tensions and a supply glut.
Oil is nearing its biggest weekly loss this year as demand and trade-war woes combine in a ‘recipe for disaster’
Rising US supply, weakening demand, and US-China trade fears are a "dangerous combination" and adding to trader concerns in oil markets.
Oil prices jumped on Monday after OPEC signaled it would maintain supply cuts and President Trump threatened the "official end of Iran."
Bullishness on a trade deal between the US and China, and supply cuts resulting from US sanctions on Iran and Venezuela have sent prices higher.
A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a "challenge" for global oil markets.