Source: Fortune
Summary
Investors are bracing for a potential US ground assault on Iran, with thousands of troops and Marines deploying to the Middle East. Despite President Trump’s efforts to downplay oil prices, US oil futures rose 2.4% to $101.99 a barrel, and Brent crude climbed 2% to $114.88. The national average gasoline price reached $3.98 a gallon, up $1 over the past month. The US dollar was up 0.14% against the euro and flat against the yen. Futures tied to the Dow Jones industrial average fell 298 points, or 0.66%.
Our Reading
The numbers tell one story. US oil futures are up, gasoline prices are rising, and the Dow Jones industrial average is down. The 31st Marine Expeditionary Unit has arrived in the Middle East, and the 11th MEU is en route. Thousands of paratroopers with the 82nd Airborne Division are headed there too. The Pentagon is preparing for weeks of ground operations in Iran. The Iran war could drag on into next year. The Middle East war now appears to be broadening and deepening. The US may be deploying more troops, but the outcome is uncertain.
Author: Evan Null
