Energy Preview: WTI crude oil futures head back above $100 mark post Trump speech

WTI crude oil futures surged back above $100 mark on Thursday after remarks from President Trump regarding the conflict with Iran which fueled market uncertainty. He warned that military campaigns could target Iran extremely hard, leading to fears of further damage to energy infrastructure. US President Donald Trump says his core objectives are nearing completion in Iran, during a primetime televised speech from the White House. Following the speech, oil climbed back and is currently quoting at $103.89 per barrel, up over 4% on the day. Brent is also up around 4.5% at $105.75 per barrel. Meanwhile, Iran rejected Trump?s claim that it had sought a ceasefire, asserting that the Strait of Hormuz would remain closed and that the vital transit route is firmly under IRGC Navy control.

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