Crude Oil WTI ICE Jan '26 (WIF26)
Crude Oil WTI ICE Futures Market News and Commentary
May WTI crude oil (CLK26) today is down -17.10 (-15.14%), and May RBOB gasoline (RBK26) is down -0.3070 (-9.29%). Â Crude oil and gasoline prices are falling sharply today, with crude sliding to a 1.5-week low and gasoline falling to a 2-week low. Â Crude prices plunged today after the US and Iran agreed to a two-week ceasefire and Iran agreed to reopen the Strait of Hormuz. Â Crude prices were also pressured after weekly EIA crude inventories rose more than expected to a 2.75-year high.
Crude prices recovered from their worst levels after Iran's semi-official Fars news agency said that passage of oil tankers through the Strait of Hormuz has been halted due to Israel's continuing attacks on Lebanon.
It remains to be seen if there will be a permanent end to the Iran war. Â Iran has shown little willingness to accept US demands to eliminate its nuclear program or retire its ballistic missile arsenal. Â President Trump confirmed the US received a ten-point Iranian proposal that... Read more
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