Tensions rose again Tuesday between the U.S. and Iran and it sent crude oil prices climbing 2%, a day after both Brent and WTI dropped more than 4%.
But on Tuesday, the U.S. shot down an Iranian drone that approached a U.S. aircraft carrier and armed boats approached a U.S.-flagged vessel in the Strait of Hormuz. The U.S. said the drone “aggressively” approached the Abraham Lincoln aircraft carrier in the Arabian Sea. Just as the tensions seemingly eased on Monday, there was the latest disruption which sent oil prices up.
Brent crude, the global benchmark, rose $1.03 or 1.6% to settle at $67.33 a barrel.
West Texas Intermediate crude, the US standard, finished up $1.07 a barrel or 1.7% at $63.21 on the New York Mercantile Exchange.
Natural gas prices jumped more than 3% on Tuesday, settling at $3.350 MMBtu after a gain of $0.113 or 3.49%.
Oklahoma energy stocks recorded a strong day with nearly all finishing with gains, including some with 4% increases in the value of their publicly-traded shares. They included Helmerich & Payne, ONEOK, and Ovintiv Inc.