The Wall Street Journal - Brent crude oil is up 1.2% at $69.09 a barrel and WTI futures are up 0.9% at $63.29 a barrel, with oil reversing its losses late last night after Iran said it had fired missiles at a base in Iraq where U.S. troops are stationed.

That latest flashpoint in a week of heightened tensions is behind Wednesday’s rally, DNB Markets’ Helge Martinsen says.

While quantifying the risk premium currently included in prices, “it is interesting to see that the Iran’s foreign minister Javad Zarif tweeted that “Iran took & concluded proportionate measures in self-defense under Article 51 of UN Charter”, while Trump tweeted...

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