By aqsagu on Skatehive
This morning there Have been increases in the price of oil greater than $100.00/barrel and as a consequence global/economic disruptions occurred. The primary source for this price hike has resulted from geopolitical disruption occurring around the world & by a U.S. President directive trapping the release of OPEC Oil through the Contra de Hormuz (one of its major routes to globally distributing oil). 1 Reasons How We Are Here? - After the collapse of Peace negotiations between the U.S. & Iran - the United States implemented a naval blockade to stop the Iranians from exporting oil while also further placing economic pressure into the on-going conflict. 2 What Are We Seeing? - Brent Crude Oil saw barrel prices add to rise slow between $101 - $104 & WTI crude barrel prices added on between $104 & $105. Average Daily Percentage Increase around 7-9%! (Mercury News - Will Trump Follow Iranians with Blockade?) The rapid response demonstrated by the markets supported by international tensions