US Crude Hits Highest Since 2014 On Missile Concerns

US Crude Hits Highest Since 2014 On Missile Concerns
Oil prices jumped, hitting their highest in more than three years.

Despite oil's price spike after the rocket over Riyadh, the market remains focused on fundamentals, said Abhishek Kumar, senior energy analyst at Interfax Energy's Global Gas Analytics in London.

“Market participants will closely watch oil-production profile in the U.S., which is also expected to have a material impact on the outcome of the upcoming OPEC meeting in June,” he said.

(Additional reporting by Henning Gloystein in Singapore and Amanda Cooper in London Editing by David Gregorio and David Goodman)

Copyright 2018 Thomson Reuters.


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