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Rich Asplund

Iran Tensions Underpin Crude Oil Prices

Oil Iran United States OPEC EIA IEA

February WTI crude oil (CLG26) on Friday closed up +0.25 (+0.42%), and February RBOB gasoline (RBG26) closed up +0.0014 (+0.08%).

Crude oil and gasoline prices settled higher on Friday, recovering some of Thursday's sharp selloff.   Geopolitical risks in Iran are supporting crude prices even as the chance of an immediate US response to violent protests in Iran has eased, as the US is boosting its military presence in the Middle East.  Crude prices fell from their best levels on Friday after the dollar index recovered from early losses and moved higher.  

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