WTI Holds Spike After Big Crude Draw, SPR Drain Continues As Cushing Stocks Stuck At 'Tank Bottoms'

WTI Holds Spike After Big Crude Draw, SPR Drain Continues As Cushing Stocks Stuck At 'Tank Bottoms' Oil prices are jumping higher after the U.S. military intercepted Iranian ballistic missiles aimed at American forces in Jordan. Shortly after the surprise attack, the U.S. and Saudi Arabia launched strikes in Iraq against Iran-backed groups that the Islamic Revolutionary Guard Corps previously directed to attack American troops and Saudi energy infrastructure. As Barron's Patrick O'Donnell reports, the escalation in hostilities hit market hopes that the vital Strait of Hormuz waterway would reopen. More than...