Crude Oil Brent Nov '26 (CBX26)
Crude Oil Brent Futures Market News and Commentary
October WTI crude oil (CLV26) closed up +4.46 (+5.20%) on Tuesday, and October RBOB gasoline (RBV26) closed up +0.0581 (+1.89%).
Crude oil and gasoline prices surged on Tuesday, with crude oil posting a 6-week high. Crude prices rallied sharply on escalation of hostilities between the US and Iran, raising concerns about prolonged disruptions to energy flows through the Strait of Hormuz.
Crude oil prices soared on Tuesday after two oil supertankers were struck by projectiles late Monday while attempting to exit the Strait of Hormuz. The attacks came after the US on Sunday targeted Iranian rocket launchers preparing to send mines into the Strait of Hormuz, and after Iran retaliated by firing missiles and drones at US air bases in Jordan and the United Arab Emirates.
Crude prices raced to their highs Tuesday afternoon when the US launched a fresh wave of strikes against targets in Iran in retaliation for Iran trying to put mines in the Strait of Hormuz and for earl... Read more
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