Crude Oil WTI Jan '25 (CLF25)
Crude Oil WTI Futures Market News and Commentary
June WTI crude oil (CLM26) today is up +2.68 (+2.84%), and June RBOB gasoline (RBM26) is up +0.0602 (+1.81%). Crude oil and gasoline prices are sharply higher today, with gasoline posting a 3.75-year high. Crude prices continue to climb as stalled peace talks between the US and Iran are keeping the Strait of Hormuz closed, tightening global oil supplies.
Crude price jumped today after President Trump on Saturday canceled planned negotiations with Iran in Pakistan, saying Iran "offered a lot, but not enough" to continue negotiations. Iranian President Pezeshkian said Iran won't enter "imposed negotiations under threats or blockade."
Energy prices remain underpinned amid the Strait of Hormuz's continued closure, threatening to deepen the global energy crisis. The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world's oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that crude output in the Per... Read more
Barchart · 27 minutes ago
June WTI crude oil (CLM26 ) today is up +2.68 (+2.84%), and June RBOB gasoline (RBM26 ) is up +0.0602 (+1.81%). Crude oil and gasoline prices are sharply...
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