A New Watchlist

We've updated Watchlist! The changes include a new, responsive design featuring extended-hours data and more news. Learn more
>

The Escalating Threat of War Means Oil Prices Could Spike Higher

Photograph by Ian Forsyth/Getty Images
  • Order Reprints
  • Print Article
  • Resize icon

Oil prices were on the way up again on Friday, as the U.S.-Iran confrontation entered precarious new territory. Brent crude was up 0.6% to $65.10 and West Texas crude was up 0.8% to $57.53.

President Donald Trump tweeted on Friday morning that he had ordered a strike on Iran in retaliation for that country shooting down an unmanned U.S. drone, but then called off the strike because a general told him it could kill 150 people. Brent crude futures had spiked 6% on Thursday after the drone was shot down.

...