Crude Oil Brent Apr '22 (CBJ22)
Crude Oil Brent Futures Market News and Commentary
August WTI crude oil (CLQ26) on Tuesday closed down -1.25 (-1.77%), and August RBOB gasoline (RBQ26) closed down -0.0063 (-0.22%).
Crude oil and gasoline prices retreated on Tuesday, with crude settling sharply lower. Crude oil prices gave up an early advance and turned lower on Tuesday amid signs that more crude is flowing through the Strait of Hormuz, boosting global oil supplies. Crude prices initially moved higher on Tuesday after Iran insisted it controls traffic through the Strait of Hormuz, a move opposed by the US, Europe, and Gulf Arab nations.Â
Energy supplies are picking up and weighing on crude prices as Morgan Stanley said 35 oil and gas tankers exited the Persian Gulf through the Strait of Hormuz last Thursday, the first time the level returned to the 30-to-40 range typical before the US-Iran war started in February. Crude oil prices have been under pressure over the past week as tanker traffic through the Strait of Hormuz has accelerated, adding million... Read more
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August WTI crude oil (CLQ26 ) on Tuesday closed down -1.25 (-1.77%), and August RBOB gasoline (RBQ26 ) closed down -0.0063 (-0.22%). Crude oil and gasoline...
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