Crude Oil Brent Jun '23 (CBM23)
Crude Oil Brent Futures Market News and Commentary
September WTI crude oil (CLU26) is down -0.61 (-0.81%) today, and September RBOB gasoline (RBU26) is up +0.0130 (+0.46%).
Crude oil and gasoline prices added to this week's sharp losses today, with crude falling to a 3-week low and gasoline dropping to a 4.75-month nearest-futures low. Growing optimism that the US and Iran are nearing a deal to reopen the Strait of Hormuz is pushing crude oil prices lower today. Crude prices remained lower after today's weekly EIA crude inventories unexpectedly increased. However, gasoline recovered its losses and moved higher after weekly EIA gasoline inventories fell more than expected to an 8.5-month low.
Crude prices are under pressure today after the AP reported that Iranian and Omani negotiators have finalized a draft deal to reopen the Strait of Hormuz and are awaiting final approval from Iran's supreme leader. Separately, Axios reported that the US, Iran and Oman were nearing an interim 60-day accord to reopen the waterway th... Read more
Barchart · 1 hour ago
September WTI crude oil (CLU26 ) is down -0.61 (-0.81%) today, and September RBOB gasoline (RBU26 ) is up +0.0130 (+0.46%). Crude oil and gasoline prices...
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A price forecast for Light Crude oil.
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