The WTI climbed during regional turmoil

The WTI climbed during regional turmoil

Gate Trade News Wednesday, October 9, 2019 20 2

The WTI climbed during regional turmoil

Texas Oil (WTI) was able to break its previous trend and reach $ 53 an hour ago as demand increased. Oil has been affected by the geopolitical tensions between Iran and Turkey over the Syrian border.

Reports of Iranian troops being sent close to its borders with Turkey, without prior notice, helped fuel demand for oil, as it could indicate intensifying regional tensions and thus a threat to oil reserves.

Tensions between Turkey and Syria - Iran's ally in clearing northern borders of Kurdish militias.

Iranian President Hassan Rouhani has called on Turkey to refrain from any military operations in Syria. He added: "We have made it clear that the only solution to ensure the security of southern Turkey and northern Syria is the presence of the Syrian army. We call on Turkey to be patient and review its decisions."

Amid the dangers of the Middle East, political turmoil in Iraq and Ecuador, as two OPEC member producers, also pose a threat to cut or cut their oil production.