[Fuji Tomi] Tokyo oil market surged following U.S. military actions

On the 7th, Tokyo crude oil and petroleum products surged due to US military actions. As of 11:00, the front-month futures: crude oil September contract rose 11,30 yen to 373,720 yen, gasoline October contract up 11,40 yen to 501,000 yen, and kerosene October contract up 12,20 yen to 493,000 yen.
The United States fired more than 50 Tomahawk missiles from a destroyer in the Persian Gulf at military facilities of the Syrian government. In response, the yen strengthened and the front-month Tokyo crude futures tested 37,000 yen. However, afterward, international crude oil rose sharply, and Tokyo crude skyrocketed to the 37,600 yen range. Owing to the intensification of Middle East tensions, concerns about crude supply have risen, and with geopolitical risk as a factor, this is a rare sharp rise. The risks have only just begun, and the front-month crude futures may even reach 38,000 yen.
https://www.fujitomi.co.jp/?p=14294

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