Brent settled above $90 today for the first time since October as geopolitical tensions continue to remain front and center. Oil rose on Thursday following news reports that Israeli embassies across the world have been placed on high alert due to increasing threats of an Iranian attack on Israeli diplomats. Iran, the third-largest producer in OPEC, has vowed revenge against Israel for an attack on Monday that killed high-ranking Iranian military personnel. Israel has not claimed responsibility for the attack on Iran’s embassy compound in Syria. “All of these geopolitical factors happened at once, driving bullish sentiment and ultimately some profit taking,” said Frank Monkham, senior portfolio manager at Altimo LLC. A meeting of top ministers from OPEC+ kept oil supply policy unchanged on Wednesday and pressed some countries to boost compliance with output cuts. WTI traded up $1.16 or 1.4% to close at $86.59. Brent traded up $1.30 or 1.5% to close at $90.65

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mars
  • Where: Renaissance Schaumburg Convention Center Hotel
  • Attending: Curtis Chandler (239.405.3365), David Cohen (954-729-4774), Brian Baker (239)297-4519
  • Conference Website
mars
  • Where: La Quinta Resort & Club, La Quinta, California
  • Attending: Curtis Chandler (239.405.3365)
  • Conference Website
opis
  • Where: Charlotte Harbor, Florida
  • Attending: David Cohen (954-729-4774), Brian Baker (239)297-4519
  • Conference Website