Crude Oil WTI Mar '34 (CLH34)
Crude Oil WTI Futures Market News and Commentary
July WTI crude oil (CLN26) on Monday closed down -1.78 (-2.32%), and July RBOB gasoline (RBN26) closed down -0.0079 (-0.26%).
Crude oil and gasoline prices gave up overnight gains on Monday and settled lower. Crude prices retreated on Monday amid signs of progress in US-Iran peace talks, including a waiver on some Iranian oil sanctions.  Also, the reopening of the Strait of Hormuz is allowing crude supplies to flow, easing global oil supply concerns. Crude prices initially opened higher in overnight trade when Iran threatened to suspend talks and close the Strait of Hormuz following Israeli attacks against Hezbollah in Lebanon, and after President Trump threatened military action against Iran if Hezbollah militants continue to attack Israel.
However, crude prices gave up their overnight advance and sold off on Monday when Iran said there had been "major progress" in all-night discussions with the US over a peace deal following the interim agreement last week that led t... Read more
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