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NRGD - Iran War Could Cause Sudden Oil Price Impacts In Both Directions
MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN
I recently wrote an article discussing how a negotiated settlement of the U.S. - Iran nuclear deal could impact the oil market. Given recent incidents, I discuss below how an armed conflict involving the U.S. and Iran might play out in the oil market. I will recount how the first Gulf War impacted oil prices because I think there could be parallels.
Source: CNN.
First Gulf War
On August 1st, 1990, WTI crude oil futures closed at $21.54. On August 2, 1990, Iraq invaded Kuwait. It took the market several days to fully