Crude Oil Brent F Aug '26 (QAQ26)
Crude Oil Brent (F) Futures Market News and Commentary
September WTI crude oil (CLU26) on Tuesday closed down -4.57 (-5.69%), and September RBOB gasoline (RBU26) closed down -0.1145 (-3.86%).
Crude oil and gasoline prices sold off sharply on Tuesday for a second day, with crude falling to a 3-week low and gasoline dropping to a 4.75-month nearest-futures low. Growing hopes that the US and Iran are moving to a deal to reopen the Strait of Hormuz are weighing on crude prices. Also, an increase in Saudi oil exports through the Red Sea is boosting global crude supplies and undercutting oil prices.
Crude prices fell sharply on Tuesday after a Qatari spokesman said a proposed resolution “is being circulated between the US and Iran,” cautioning that a deal has not yet been reached. Crude prices extended their losses today when Treasury Secretary Bessent said: “There is a chance we may have a deal on Tuesday or Wednesday to open the strait.” Also, the key Saudi export port of Yanbu in the Red Sea had its busiest day on Monday si... Read more
Klarenbach Research · Tue Aug 4, 10:12PM CDT
A price forecast for Light Crude oil.
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September WTI crude oil (CLU26 ) on Tuesday closed down -4.57 (-5.69%), and September RBOB gasoline (RBU26 ) closed down -0.1145 (-3.86%). Crude oil and...
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September WTI crude oil (CLU26 ) today is down -3.77 (-4.72%), and September RBOB gasoline (RBU26 ) is down -0.1201 (-4.05%). Crude oil and gasoline prices...
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