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Oil Drops on Comments Exculpating Iran from US Troop Attack


Crude Has Dropped Further on the Day, after headlines in which the US said it had not seen direct orders from Iran for its proxies to attack US troops.

  • WTI DEC 23 down -2.7% at 85.74$/bbl
  • WTI DEC 23-JAN 24 down -0.19$/bbl at 1.07$/bbl
  • WTI JAN 24-FEB 24 down -0.23$/bbl at 1.02$/bbl
  • WTI DEC 23-DEC 24 down -1.58$/bbl at 8.03$/bbl
  • Wires carrying comments from the Pentagon stating that the, "US has not seen a direct order from Iran for its proxies to increase attacks against US troops in the middle east." This follows an uptick in violence in the Middle East against US troops.
  • The headlines may help counter the concern of rising tensions, and in particular the fear that oil supply could be disrupted by the outbreak of a regional war.

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