Hormuz Stalemate Raises Risk of Oil Prices Hitting $120
Oil prices are holding steady for now, but a closed Strait of Hormuz and shrinking global inventories have analysts warning of a sharp price spike within weeks.
Oil prices are holding steady for now, but a closed Strait of Hormuz and shrinking global inventories have analysts warning of a sharp price spike within weeks.
The United States Oil Fund (AMEX:USO) traded at 130.66 dollars on August 19, up 0.28 percent on the day, sitting comfortably inside its 52 week range of 102.42 to 142.33…
Crude oil surged nearly 6% as USO hit 139.49 dollars, pushing RSI past 71. Here is what the spike means for refiners, crack spreads, and fuel prices ahead.

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