'No Signal For Resolution' As US Mulls Iran Military Options
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Brent oil rallied to a four-year high after Axios reported that US President Donald Trump will receive a briefing on new military options for action in Iran, signaling the potential for fresh escalation in the Middle East. The global benchmark surged as much as 7.1% before paring gains to trade near $122. Warren Patterson, Head of Commodities Strategy at ING Joined Stephen Carroll and Caroline Hepker on Bloomberg Radio To discuss. He says the market is losing confidence in a swift resolution and is increasingly pricing in a prolonged disruption to oil flows through the Strait of Hormuz.
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