Oil rises after Trump says Iran made a big mistake



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June 20, 2019 12:43
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Updated June 20, 2019 13:11

Oil rose on Thursday after President Donald Trump said Tehran "made a big mistake" by knocking down an American drone. On the upside, in New York, the barrel of WTI increased its increase from 6.3% to 57.13 dollars at 15:05 GMT, while in London Brent oil increased 4.66% to 64.69 dollars.

The Pentagon confirmed that Iranian forces shot down a US Navy drone that was in international airspace. Tehran, on the other hand, claims that it flew over its territory. "Iran has made a very big mistake!" Trump tweeted amid growing tension between Tehran and Washington.

The incident was added to others reported in the Middle East in recent weeks and fears about the global supply of crude oil. "The situation quickly degrades and the market also quickly integrates with prices," said John Kilduff of New Capital brokerage again Capital.

The White House discusses the issue "and could announce a response" to the attack, he added. "At the moment, prices will closely monitor the situation," he said.

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