Soleimani's Killing Sets the Stage for a Longer-Term Oil Price Rise

Crude oil rose nearly 4 percent on news of the U.S. strike that killed senior Iranian military official Qassem Soleimani in Iraq. In the short term, however, it will be difficult for the market to price in much more risk regarding possible Iranian retaliation without suffering actual losses in volume. In the next few weeks, Iran has reason to avoid strikes against tankers or its neighbors' oil infrastructure, but that could change in the longer term....