Crude Oil Prices Supported by Iran Conflict

Also, damage from an intercepted Iranian drone caused a major fire on Tuesday at the United Arab Emirates' major oil-trading hub, Fujairah, one of the largest oil storage centers in the Middle East. In addition, Iranian drone attacks forced Saudi Arabia to shut down its Ras Taura refinery, the country's largest, which refines 550,000 bpd of crude oil.The closure of the Strait of Hormuz has halted most energy shipments from the Persian Gulf and is bullish for energy prices. Iran's Islamic Revolutionary Guard ...