Crude Oil Brent Feb '25 (CBG25)
Crude Oil Brent Futures Market News and Commentary
September WTI crude oil (CLU26) closed up +2.07 (+2.75%) on Thursday, and September RBOB gasoline (RBU26) closed up +0.0997 (+3.51%).
Crude oil and gasoline prices settled sharply higher on Thursday amid uncertainty regarding a proposed plan by Iran and Oman to reopen the Strait of Hormuz. Also, a reported missile attack on a Saudi oil tanker by Houthi rebels gave crude oil prices a boost.
Crude prices raced to their highs on Thursday after Iran's semi-official Fars news agency reported that vessels belonging to the US, Israel, or any other nation that has "caused damage" to Iran would be prohibited from the Strait of Hormuz under the proposed deal with Oman to reopen the waterway, which would restrict some oil exports from several Gulf States.
Crude prices also found support on Thursday over concerns about oil supplies from the Middle East after Yemen's Houthi rebels said they targeted a Saudi oil tanker with a ballistic missile in the Gulf of Aden. The Houthi... Read more
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September WTI crude oil (CLU26 ) closed up +2.07 (+2.75%) on Thursday, and September RBOB gasoline (RBU26 ) closed up +0.0997 (+3.51%). Crude oil and gasoline...
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