U.S. Navy may have brought down a second Iranian drone last week in the Strait of Hormuz - U.S. Official

In recent trade, there are news wires reporting that the U.S. Navy may have brought down a second Iranian drone last week in the Strait of Hormuz, according to a U.S. Official.

More to come...

Market implications

WTI has been buoyed and based down at the $55 handle on the recent tensions between US/UK and Iran, climbing to a high of $56.44 overnight. The thing to watch for is whether heightened tensions will lead to a closure of the Strait of Hormuz which would have an impact on oil exports.