Crude Oil WTI Mini May '23 (QMK23)
Crude Oil WTI Mini Futures Market News and Commentary
September WTI crude oil (CLU26) today is down -0.03 (-0.03%), and September RBOB gasoline (RBU26) is up +0.0219 (+0.69%).
Crude oil and gasoline prices are mixed today. Crude prices gave up an early advance today and turned slightly lower on signs that larger-than-expected volumes of crude oil are moving out of the Persian Gulf despite hostilities between the US and Iran. Crude prices also came under pressure on signs that Iran and Oman are close to signing a deal to reopen the Strait of Hormuz.
Crude prices are sliding today as many Gulf countries are able to successfully transit crude shipments through the Strait of Hormuz despite attacks by Iran on shipping through the strait. Last week, US Energy Secretary Wright said that 9 million bpd crossed through the strait over the past seven days, higher than expectations of 4 million bpd. According to vessel-tracking data compiled by Bloomberg, Kpler and Vortexa, the UAE, Qatar, Iraq and Kuwait have all been shipping cr... Read more
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September WTI crude oil (CLU26) today is down -0.03 (-0.03%), and September RBOB gasoline (RBU26) is up +0.0219 (+0.69%). Crude oil and gasoline prices...
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