Crude Oil Brent F Oct '23 (QAV23)
Crude Oil Brent (F) Futures Market News and Commentary
September WTI crude oil (CLU26) today is down -4.87 (-5.75%), and September RBOB gasoline (RBU26) is down -0.1186 (-3.81%).
Crude oil and gasoline prices are sharply lower today, with gasoline falling to a 3-week low. Easing tensions in the Middle East are weighing on crude prices today after President Trump called off planned strikes on Iran and Iran said progress was being made in negotiations with Oman to get more ships moving through the Strait of Hormuz.
Crude prices are falling today in hopes that the Strait of Hormuz could soon be reopened as geopolitical tensions ease. President Trump called off a planned attack on Iran, and Iran suggested negotiations to get more ships moving through the Strait of Hormuz were making progress. Saudi Arabia's Crown Prince Mohammed bin Salman held a call with President Trump over the weekend and "stressed the need to prioritize dialogue to reduce escalation and the importance of making every possible effort to achieve calm."
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