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Line chart showing WTI crude oil climbing to $103.10 after weekend tanker and pipeline strikes.

WTI crude climbed to a fresh high after an Iranian tanker was struck and a drone attack damaged a Saudi Arabian pipeline over the weekend, extending a rally that has run from the low eighties in mid-August. The move stands out because oil was the only major asset that day to trade in the direction the attack would suggest, while stocks, gold and the Canadian dollar moved lower instead. That divergence points to a Federal Reserve decision two days out as the bigger driver for every market except crude.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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