Crude prices may react either way depending on US administrations response to Iran's attack

Crude prices have soared on the back of what could be a possible escalation in geopolitical tensions in the Middle-East.According to a US official, an Iranian surface-to-air missile shot down a US Military drone in international airspace over the Strait of Hormuz. The official claimed that the US considers this to be an unprovoked attack - however Iran has claimed that the drone was shot down in its territory. To speak about these developments and the road ahead for crude CNBC-TV18 spoke to John Kilduff partner at Again Capital.