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Oil Tanker Attack Leads To Price Surge

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Oil Tanker Attack Leads To Price Surge

Oil Tanker Attack Leads To Price Surge

According to Reuters, oil prices are surging after hitting a five-month low.

But gains made for crude oil futures were attributed to rising tension along the waterways in the Middle East.

On June 13th, crude oil prices spiked over 4-percent after reports revealed that two tankers were attacked in the Gulf of Oman.

The rising price for crude oil futures also gave a boost to publicly traded energy companies, including Exxon Mobil and Chevron, which rose over 1-percent each.

Gains made by oil and energy stocks also propped up the S&P 500's energy index, which added 1.2-percent on the day.


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