Crude Oil WTI ICE Jan '21 (WIF21)
Crude Oil WTI ICE Futures Market News and Commentary
July WTI crude oil (CLN26) are up +6.21 (+7.11%), and July RBOB gasoline (RBN26) is up +0.1004 (+3.31%).
Crude oil prices are sharply higher today after Iran’s Tasnim news agency reported that Iran’s government said in a statement that it halted the exchange of messages with the US regarding a draft ceasefire agreement due to Israel's stepped-up attacks on Lebanon. Iran has consistently said there would be no US-Iran ceasefire without a truce in Lebanon. President Trump said Sunday night, "It will all work out in the end," even though attacks continue on both sides and Israel continues to launch attacks in Lebanon.Â
Today’s Tasnim report also said that Iran and its affiliates were considering the closure of the Bab el-Mandeb Strait, at the southern end of the Red Sea, which would further disrupt global oil shipments.
Prior to today’s report, the markets hoped for a deal between the US and Iran to extend a ceasefire by 60 days and reopen the Strait of Hormuz. Howe... Read more
Barchart · 1 hour ago
July WTI crude oil (CLN26 ) are up +6.21 (+7.11%), and July RBOB gasoline (RBN26 ) is up +0.1004 (+3.31%). Crude oil prices are sharply higher today after...
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