Oil prices rise after US Navy shoots down Iranian drone

CommSec’s Ryan Felsman has commented on oil prices rising after the US Navy shot down an Iranian drone aimed at an aircraft carrier.

“We saw a rotation out of tech shares into energy shares last night which were up 3.3 per cent,” Mr Felsman told Sky News Australia.

“We saw the US oil NYMEX price lift by 1.7 per cent to $US63.21 a barrel – that’s after the US Navy shot down a drone from Iran which was aimed at an aircraft carrier last night.”

Presented by CommSec.