WSJWhatsNow: Escalating tensions in the Middle East are giving oil prices a boost, but some investors are skeptical the rally has legs
Crude futures shot up as much as 4.9% Friday after President Trump ordered a strike on Baghdad that killed a powerful Iranian general—Maj. Gen. Qassem Soleimani. A top Iraqi paramilitary commander, Abu Mahdi al-Mohandes, also died.
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Iran will decide if oil bulls outdo gold bugsMiddle East tensions have boosted crude prices more than that of the precious metal. Tehran could yet attack Saudi oil fields or disrupt the vital Strait of Hormuz. Anything less than that would see gold, which was already in high demand, outperform.
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