Crude Oil WTI Sep '19 (CLU19)
Crude Oil WTI Futures Market News and Commentary
August WTI crude oil (CLQ26) on Wednesday closed up +3.08 (+4.37%), and August RBOB gasoline (RBQ26) closed up +0.1495 (+5.06%).
Crude oil and gasoline prices settled sharply higher on Wednesday, with crude rising to a 2-week high and gasoline climbing to a 1-month high. Crude prices are soaring amid escalation of hostilities between the US and Iran, which threatens to close shipping in the Strait of Hormuz and curb global oil supplies. Wednesday’s weekly EIA report was mixed for crude oil and products.Â
Crude prices rose sharply on Wednesday after the US launched strikes against more than 80 targets in Iran in response to Iran attacking commercial shipping in the Strait of Hormuz. Also, President Trump said the ceasefire with Iran is over, raising the prospect of renewed hostilities in the region that could disrupt energy supplies.
Crude prices extended their gains on Wednesday after President Trump said the US will probably launch further strikes on Iran and co... Read more
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