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By Tyler Losier, Energy Reporter, Oil & Gas 360

Downed drone leads to comments from White House
As of mid-afternoon Thursday, WTI crude oil prices are trading at almost $57 after President Trump tweeted that Iran made a “very big mistake” by shooting down a U.S. spy drone over the Strait of Hormuz.

According to CNBC, U.S. officials are reporting that the drone was in international airspace, however officials in Tehran claim that it was over Iranian territory. Regardless, the increased threat of conflict erupting in the Middle East has sent oil prices skyrocketing, much like when two oil tankers were attacked near the Strait of Hormuz last week.

The latest escalation in the increasingly tense U.S.-Iran feud has prompted a s...

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