Crude Oil Brent Mar '28 (CBH28)
Crude Oil Brent Futures Market News and Commentary
August WTI crude oil (CLQ26) today is down -1.26 (-1.81%), and August RBOB gasoline (RBQ26) is up +0.0335 (+1.16%).
Crude oil and gasoline prices are mixed today, with crude falling to a 4.25-month low and gasoline rising to a 1-week high.  Crude prices are under pressure today amid signs of progress in US-Iran peace talks.  Also, dollar strength today is weighing on most commodity prices, including crude. Today’s weekly EIA inventory report is mostly bullish as crude supplies fell more than expected to a 7.75-year low and gasoline stockpiles fell more than expected.
Crude prices tumbled today after a senior US administration official said US negotiators held positive discussions in Qatar and progress is being made on technical talks with Iran. Also, the Wall Street Journal reported that President Trump had decided against resuming a broad military campaign against Iran and told his staff that he didn't mind if the negotiations extended beyond the August 18 deadline. Read more
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