WTI crude settles up 64-cents as Middle East angst dominates

Fear is the most-powerful emotion and war is one of the greatest fears.

When that kind of emotion grips a market, it’s tough not to get swept up in it but nearly-invariably, the futures is better than feared. So it was with the war drums beating earlier today and driving WTI crude oil to $87.67.

Late in the day, as Hezbollah launched a token response, oil gave much of it back, falling to $85.91. There is still a decent geopolitical premium given that the weekend looms but it’s not hard to imagine selling at the Monday open.

This article was written by Adam Button at www.forexlive.com.