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

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.