Oil Surges as Iran Says It Attacks Iraq Base Housing U.S. Troops

Oil futures surged in New York after Iran said it started attacks on an Iraqi airbase that hosts U.S. troops. Spot gold also jumped. 

West Texas Intermediate crude jumped as much as 4.4% to $65.48 a barrel on the New York Mercantile Exchange after Iran’s state television reported the country started operation “Martyr Soleimani” at dawn with several rockets being fired at Ayn al-Asad base in Iraq.

Reports of the attacks reignited fears that Iran’s promised retaliation against the U.S. killing of a top general last week will spark a wider conflict in the Middle East that could disrupt global oil supplies. READ MORE

TECHNICAL CHARTS

IRC is heading to the trend-line and it looks good for a BUY & if it falls further don’t rush but buy at the next support
TECH – semi-conductor looks good during WAR and you can take advantage of this company – technically there is a break out already

PSEI MIGHT TAKE A CORRECTION TODAY WITH WAR HEADLINE

Technical pullback today

KEY TAKEAWAYS

  • WAR have started market volatility is expected
  • We should some penny rallying if they are related to semi-conductor
  • Minerals, energy & oil sector should do well
  • Banks & finance will get a big hit

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