Oil Prices Up Nearly $3 After Iran Drone Attack



Oil Prices Up Nearly $3 After Iran Drone Attack
WTI and Brent crude oil futures surged Thursday following the downing of a U.S. Navy drone over the Strait of Hormuz.

In addition, de la Ossa observed that the OPEC member showing the strongest build should be no mystery.

“Iran not surprisingly leads the OPEC gains as Iranian exports continue to suffer,” he said.

According to Orbital Insight figures emailed to Rigzone, Iran’s oil stocks have increased 1.34 million barrels over the past seven days. The firm’s figures also reveal that Iran’s inventories are up nearly 4.8 million barrels over a 30-day period and up 17.7 million barrels year-on-year.

Reformulated gasoline (RBOB), like crude oil, finished the day higher. The July RBOB contract settled at $1.79 per barrel, reflecting a five-cent gain.

Natural gas futures fell markedly for the third consecutive trading day. July gas futures lost nine cents to settle at $2.185.


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