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Crude Oil WTI Dec '17 (CLZ17)

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Crude Oil WTI Prices for [[ item.sessionDateDisplayLong ]]
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Crude Oil WTI Futures Market News and Commentary

US-Iran Peace Hopes Weigh on Crude Oil Prices

July WTI crude oil (CLN26) on Friday closed down -1.54 (-1.73%), and July RBOB gasoline (RBN26) closed down -0.0665 (-2.14%).  Crude oil and gasoline prices retreated on Friday, with crude oil falling to a 5-week low.  Crude prices are under pressure after the US and Iran tentatively agreed to extend a ceasefire by 60 days, fueling optimism that the Strait of Hormuz may reopen soon.  

The markets are awaiting President Trump's approval of a preliminary deal between the US and Iran to extend a ceasefire by 60 days and reopen the Strait of Hormuz.  President Trump said Friday he's making a "final determination" on a preliminary deal to extend a ceasefire with Iran.

However, even if a truce extension is agreed, several hurdles remain before crude flows can resume.  Among them, mines in the Hormuz waterway must be removed, shut-in oil fields may take months to restart, and damage to energy infrastructure from drone and missile strikes needs to be repaired.

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US-Iran Peace Hopes Weigh on Crude Oil Prices

July WTI crude oil (CLN26 ) on Friday closed down -1.54 (-1.73%), and July RBOB gasoline (RBN26 ) closed down -0.0665 (-2.14%). Crude oil and gasoline...

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Crude Oil Prices Tumble on Hope for an End to the US-Iran War

July WTI crude oil (CLN26 ) today is down -1.85 (-2.08%), and July RBOB gasoline (RBN26 ) is down -0.0692 (-2.23%). Crude oil and gasoline prices are...

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