Iran's missile strike sends gold and oil prices up

Investors shift to risk-off mode amid escalating tensions in the Middle East

20200108 crude oil.jpg

West Texas Intermediate, the global oil benchmark, marked $65 per barrel at one point on Jan. 8, up 10% from a month ago. © Reuters

RURIKA IMAHASHI and MAYU OKAMURA, Nikkei staff writers

TOKYO -- The Iran-U.S. hostilities are creating fears of geopolitical risks, sending crude oil prices up but not touching already high fees for the tankers used to ship the crucial commodity.

On Wednesday, Iran landed missile strikes on U.S. military facilities in Iraq, retaliation for the assassination of a top Iranian commander earlier this month.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.