Fear is the most powerful emotion and war is one of the greatest fears.
When this kind of emotion grips a market, it’s hard not to get caught up in it, but almost invariably, the future is better than feared. So it was as the drums of war beat earlier today and pushed WTI crude oil to $87.67.
Late in the day, as Hezbollah launched a symbolic response, oil gave back much of it, falling to $85.91. There’s still a decent geopolitical premium given that the weekend is approaching, but it’s not hard to imagine selling at the Monday open.
Intraday WTI Crude Oil
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