WTI crude rises $1.50 with eyes on the Red Sea

  • WTI crude oil up $1.56 to $75.12
oil daily chart
WTI crude oil daily

The weekend drone attack that the Pentagon blamed on Iran has the oil market on edge once again. WTI crude oil is up $1.52 to $75.06 and trading near a session high.

Last week, oil traded as high as $75.37 before fading.

The rally in oil is helping to boost the Canadian dollar with USD/CAD down 40-pips to 1.3209 -- a fresh four-month low.

USDCAD daily chart d
USDCAD daily chart

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