Crude Oil Brent Aug '26 (CBQ26)
Crude Oil Brent Futures Market News and Commentary
July WTI crude oil (CLN26) on Thursday closed down -2.32 (-2.58%), and July RBOB gasoline (RBN26) closed down -0.0085 (-0.27%).
Crude oil and gasoline prices gave up an early advance and settled sharply lower on Thursday after President Trump said he canceled planned military strikes on Iran, signaling a peace deal is imminent. Crude prices initially whipsawed higher on Thursday after President Trump said the US will continue attacks on Iran and threatened to seize Kharg Island, Iran’s main crude exporting hub.Â
Crude prices were extremely volatile on Thursday, whipsawing higher and lower several times. Prices retreated on Thursday afternoon when President Trump said he canceled planned military strikes against Iran, citing "discussions" with the Iranian leadership. He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until th... Read more
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