Crude Oil WTI Aug '26 (CLQ26)
Crude Oil WTI Futures Market News and Commentary
August WTI crude oil (CLQ26) on Thursday closed up +1.58 (+2.25%), and August RBOB gasoline (RBQ26) closed up +0.1109 (+3.97%).
Crude oil and gasoline prices erased early losses on Thursday and rallied sharply as short covering emerged on a report that an unknown projectile off the coast of Oman hit a cargo vessel. Crude prices initially fell to a 4-month low on Thursday as the resumption of crude supplies through the reopened Strait of Hormuz has eased global oil supply concerns.Â
Renewed tensions in the Persian Gulf pushed crude oil prices sharply higher on Thursday after the UK Maritime Trade Operations reported that a cargo vessel was hit by an unknown projectile off the coast of Oman in the Strait of Hormuz. The incident occurred after several freighters turned around while attempting to cross the Strait of Hormuz, with maritime intelligence companies reporting broadcasts purportedly from the Iranian navy instructing ships not to cross.
Thursday afternoon, t... Read more
Barchart · Thu Jun 25, 2:18PM CDT
August WTI crude oil (CLQ26 ) on Thursday closed up +1.58 (+2.25%), and August RBOB gasoline (RBQ26 ) closed up +0.1109 (+3.97%). Crude oil and gasoline...
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