Crude Oil Brent Oct '26 (CBV26)
Crude Oil Brent Futures Market News and Commentary
September WTI crude oil (CLU26) closed up +1.07 (+1.30%) on Tuesday, and September RBOB gasoline (RBU26) closed up +0.0012 (+0.04%).
Crude oil and gasoline prices settled higher on Tuesday, with crude oil climbing to a 1-week high and gasoline posting a 1.5-week high. Crude prices were volatile on Tuesday, whipsawing lower and higher on news headlines. The lack of an agreement between Iran and Oman to reopen the Strait of Hormuz is limiting crude supplies from the Middle East and is underpinning oil prices. Crude prices regained upward momentum Tuesday afternoon when Iran's state-owned Islamic Republic of Iran Broadcasting (IRIB) said the Strait of Hormuz would remain shut until all of its conditions are met.
However, gains in crude were limited after Pakistan signaled the US and Iran were close to an arrangement that could reopen the Strait of Hormuz. Al Jazeera said that talks between Oman and Iran to reopen the Strait of Hormuz have reached an advanced stage. Pak... Read more
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