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Oil Markets Prove Resilient In Aftermath Of Iran Attacks – For Now

January 10, 2020

Via: Forbes

Markets responded positively to President Donald Trump’s January 8 address in the wake of Iranian rocket attacks against Iraqi bases housing US troops, with traders interpreting his overtures for peace and cooperation with the Islamic Republic as a sign of de-escalation.

Shorty after the White House speech US stocks surged and oil prices retreated, calming the volatility that had roiled markets since news of the Iranian attacks – proclaimed to be revenge for the US killing of Islamic Revolutionary Guard Corps Quds Force commander, Major General Qasem Suleimani. The S&P 500 finished the afternoon of the 8th up 1%, and the Nasdaq composite closed out the day with a 0.7% gain, an all-time high.

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