Crude Oil Recovers as US May Restart Operations to Reopen the Strait of Hormuz

June WTI crude fell 0.27, or 0.28%, to close lower, while June RBOB gasoline declined 0.0033, or 0.10%. Prices weakened on optimism that a US-Iran peace deal is imminent, as markets await further updates on the US proposal. The move reflects cautious, geopolitically driven pressure on energy futures.

Analysis

June WTI crude fell 0.27, or 0.28%, to close lower, while June RBOB gasoline declined 0.0033, or 0.10%. Prices weakened on optimism that a US-Iran peace deal is imminent, as markets await further updates on the US proposal. The move reflects cautious, geopolitically driven pressure on energy futures.