by Ryan McMaken
Mises.org
Oil prices surged Tuesday night following the Iranian government’s missile attack launched in response to the US US’s killing of Iranian general Qassem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis.
According to CNBC , U.S. West Texas Intermediate (WTI) crude futures surged 4.5%, or $2.83, to $65.53, its highest level since April.
In dollars per barrel (WTI), the oil price has hovered around 55 dollars per barrel over the past year, with the exception of a spike above 60 dollars per barrel in May 2019.