Crude is down in early trading this morning. Crude is currently trading at $62.60, a loss of 67 cents.
Fuel prices are down. Diesel is trading at $2.0136, a loss of 2.0 cents. Gasoline is trading at $1.7232, a loss of 3.1 cents.
Yesterday markets rose as the US warned of heightened threats to energy facilities in the Middle East. Crude markets this morning are giving back some of the gains made over the previous two days as investors reconsider Middle East supply disruptions in the wake of the US killing of a top Iranian military commander.
Iran is assessing 13 scenarios to respond to the US killing of Qassem Soleimani, with the head of Iran’s National Security Council suggesting that even the weakest of those options would be a “historic nightmare” for the US. Trump stated that the US would retaliate against Iran, threatening to attack 52 sites, if Tehran were to strike back after the killing.