Crude Oil WTI Mar '19 (CLH19)
Crude Oil WTI Futures Market News and Commentary
May WTI crude oil (CLK26) on Thursday closed up +3.40 (+3.72%), and May RBOB gasoline (RBK26) closed up +0.0945 (+3.08%). Â
Crude oil and gasoline prices rallied sharply on Thursday as the US naval blockade of the Strait of Hormuz entered its fourth day, curbing oil supplies from the Middle East. Â Gains in crude oil accelerated on Thursday after Bloomberg reported that some Gulf Arab and European leaders believe that a US-Iran peace deal will take about six months, dashing hopes of a speedy conclusion to the Iran conflict. Â Also, Thursday's rally in the S&P 500 to a new all-time high shows confidence in the economic outlook, which is supportive of energy demand and crude prices.
Crude prices fell back from their best level Thursday afternoon, after President Trump said the prospects for a peace deal with Iran are "looking very good," as the two sides are in discussions to extend a ceasefire that expires next week. Â President Trump also announced that Israel and Lebanon h... Read more
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May WTI crude oil (CLK26 ) on Thursday closed up +3.40 (+3.72%), and May RBOB gasoline (RBK26 ) closed up +0.0945 (+3.08%). Crude oil and gasoline prices...
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