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Both WTI and Brent crude prices saw a noticeable jump late this week as after a clash between the United States and Iran. The rally was spurred due to Iran shooting down a U.S. military drone, which will likely disrupt global oil supplies.
Between 8 AM and 5 PM on June 20th, WTI and Brent crude prices rose 5.9% and 4.3%, respectively.
On Friday June 21, prices continued their upward trend, but only increasing ~1% or so.
This is a welcome increase for oil futures, especially after the EIA lowered its 2019 outlook for crude oil prices earlier this month.
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