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Bloomberg Quint

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Image Credit: Bloomberg Quint

Oil Resumes Advance After Trump Calls For Evacuation Of Tehran

  • Oil prices rose after President Trump called for the evacuation of Tehran amid escalating tensions.
  • West Texas Intermediate reached above $73 a barrel, climbing 2.7% earlier.
  • Iran's crude-exporting infrastructure remains unaffected, with no signs of Tehran escalating hostilities by blocking the Strait of Hormuz.
  • Navigation signals in the region are facing interference, affecting shipping operations.
  • Oil prices are higher due to producer hedging and increased risk from the conflict.
  • President Trump's call for evacuation followed Israel's attacks on Iran's nuclear sites.
  • Israel claimed to have control over Iran's airspace and damaged critical missile and nuclear facilities.
  • WTI for July delivery rose to $73.28 a barrel, while Brent for August settlement increased to $74.53 a barrel.

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