Crude Oil Brent Mar '23 (CBH23)
Crude Oil Brent Futures Market News and Commentary
October WTI crude oil (CLV26) is down -2.55 (-3.00%) today, and October RBOB gasoline (RBV26) is down -0.0183 (-0.62%).
Crude oil and gasoline prices added to Monday’s sharp losses, falling to 1-week lows today after a news report said the US would be returning diplomats to Middle East embassies, easing concerns about an escalation of the Iran war.
Crude prices tumbled today after the New York Times reported the US State Department is preparing to send US diplomats back to embassies in the Middle East that were evacuated before and during the war with Iran, suggesting that the Trump administration does not anticipate a return to all-out hostilities with Iran.
Signs that crude flows through the Strait of Hormuz are increasing are also weighing on crude prices. On Monday, Axios reported that about 40 tankers transited out of the Strait of Hormuz last Friday night, transporting around 16 million bbl of crude. Also, the Joint Maritime Information Center cut the threa... Read more
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October WTI crude oil (CLV26 ) is down -2.55 (-3.00%) today, and October RBOB gasoline (RBV26 ) is down -0.0183 (-0.62%). Crude oil and gasoline prices...
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Lean hog futures down 30 to 80 cents at midday. USDA’s national base hog price was reported at $90.61 on Tuesday morning. The CME Lean Hog Index was...
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