Crude Oil Brent Jan '26 (CBF26)
Crude Oil Brent Futures Market News and Commentary
July WTI crude oil (CLN26) on Friday closed down -1.54 (-1.73%), and July RBOB gasoline (RBN26) closed down -0.0665 (-2.14%). Â Crude oil and gasoline prices retreated on Friday, with crude oil falling to a 5-week low. Â Crude prices are under pressure after the US and Iran tentatively agreed to extend a ceasefire by 60 days, fueling optimism that the Strait of Hormuz may reopen soon. Â
The markets are awaiting President Trump's approval of a preliminary deal between the US and Iran to extend a ceasefire by 60 days and reopen the Strait of Hormuz. Â President Trump said Friday he's making a "final determination" on a preliminary deal to extend a ceasefire with Iran.
However, even if a truce extension is agreed, several hurdles remain before crude flows can resume. Â Among them, mines in the Hormuz waterway must be removed, shut-in oil fields may take months to restart, and damage to energy infrastructure from drone and missile strikes needs to be repaired.
Earlier this... Read more
Barchart · 54 minutes ago
July WTI crude oil (CLN26 ) on Friday closed down -1.54 (-1.73%), and July RBOB gasoline (RBN26 ) closed down -0.0665 (-2.14%). Crude oil and gasoline...
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