Crude Oil WTI Aug '29 (CLQ29)
Crude Oil WTI Futures Market News and Commentary
July WTI crude oil (CLN26) today is down -1.86 (-2.00%), and July RBOB gasoline (RBN26) is up +0.0202 (+0.66%).
Crude oil prices are under pressure today, amid hopes of a US-Iran peace settlement that would allow the reopening of the Strait of Hormuz. Also, today's rally in the dollar index ($DXY) to a 1.75-month high is weighing on crude prices.Â
Crude oil prices are falling today even as the US and Iran have made little progress in talks over an interim peace deal, with clashes between Israel and Hezbollah militants ongoing in Lebanon.  Iran insists on a ceasefire in Lebanon before accepting a US deal to extend the truce and reopen the Strait of Hormuz. President Trump said Thursday that negotiations with Iran are in the "final" stages without elaborating.  In contrast, Iran's Foreign Minister Abbas Araghchi earlier said there had been "no tangible progress" even though both sides continue to exchange messages via mediators.
Weakness in Chinese demand for crude... Read more
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