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Everbright Futures: Iran Situation Escalates, Crude Oil Hits Limit Up at Opening
The weekend conflict between Iran and the U.S. quickly escalated. On the 28th, an explosion occurred in downtown Tehran, the capital of Iran. Alerts sounded across Israel, and an attack on Iran was announced. On March 1st, according to Iranian media, Iran’s Supreme Leader Khamenei and several senior Iranian military officials were killed in attacks by the U.S. and Israel. As a result, both domestic and international crude oil prices surged significantly. The main domestic crude oil futures hit the daily limit up at the open, then briefly opened lower, but later hit the limit up again, driving up chemical and oil products across the board. (Everbright Futures)