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Oil Prices Swing After Jordan Drone Attack. Iran’s Involvement Is the Worry
Oil prices were swinging between gains and losses early Monday after surging over the weekend amid an attack on a base in Jordan that killed three U.S. servicemen. It’s the first time U.S. troops have been killed in this latest Middle East conflict. The U.S. said the drone strike came from an Iran-backed militia and that it would retaliate. Since the start of the present hostilities on Oct. 7 when Hamas attacked Israel, the concern from an investment perspective is that the war could widen and jeopardize oil supplies in the region, home to some of the world’s largest producers. Iran denied any involvement in the ... (full story)