Crude Oil WTI Feb '21 (CLG21)
Crude Oil WTI Futures Market News and Commentary
October WTI crude oil (CLV26) is down -2.06 (-2.35%) today, and October RBOB gasoline (RBV26) is down -0.0820 (-2.69%).
Crude oil and gasoline prices are under pressure today from a stronger dollar. Also, signs that crude supplies are moving through the Strait of Hormuz are undercutting oil prices. Energy markets are awaiting new economic sanctions against Iran, expected to be announced by US Treasury Secretary Scott Bessent later today.
Crude prices are under pressure today after Axios reported that about 40 tankers transited out of the Strait of Hormuz last Friday night, transporting around 16 million bbl of crude. Also, the Joint Maritime Information Center cut the threat level for shipping in the Gulf of Oman to “moderate,” one step lower than the previous assessment. The moderate assessment means the threat of attack on shipping off the coast of Oman is possible but not likely.
Markets await a press conference later today from US Treasury Secretary Bessen... Read more
Barchart · Mon Aug 24, 10:29AM CDT
October WTI crude oil (CLV26 ) is down -2.06 (-2.35%) today, and October RBOB gasoline (RBV26 ) is down -0.0820 (-2.69%). Crude oil and gasoline prices...
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