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Brent jumps back following Trump comment on downed US helicopter
Not so long ago Brent crude for August delivery fell below the $90 per handle for the first time this week. The low seen was set around $89.60 and that low came as the US stock markets led by the Nasdaq 100 fell even further.
However, not long after that low, the US President came out on Truth Social, stating that he had been informed about a US helicopter being downed near the Straits of Hormuz last night. Trump said the US will have to react this event and that comment saw Brent crude spike immediately higher. It jumped very close to $93 per barrel on this Trump comment. It has since stepped back and pared some of that sharp rise. If nothing else this latest threat of escalation will keep oil traders mindful about pushing the price lower again. Brent is right now at $91.55
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