U.S. Navy may have brought down a second Iranian drone last week in the Strait of Hormuz – U.S. Official

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In recent trade, there are news wires reporting that the U.S. Navy may have brought down a second Iranian drone last week in the Strait of Hormuz, according to a U.S. Official.

More to come…

Market implications

WTI has been buoyed and based down at the $55 handle on the recent tensions between US/UK and Iran, climbing to a high of $56.44 overnight. The thing to watch for is whether heightened tensions will lead to a closure of the Strait of Hormuz which would have an impact on oil exports. 

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