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Market Impact: 0.2

Crude Prices Retreat on Progress in US-Iran Peace Talks

Energy Markets & PricesCommodities & Raw MaterialsMarket Technicals & Flows

WTI crude for Aug (CLQ26) is down 1.26% (-1.81%) and trading near a 4.25-month low, while Aug RBOB gasoline (RBQ26) is up 1.16% to a 1-week high. The oil/gas divergence suggests near-term downside pressure on crude without a fully risk-off move across the refined complex.

Analysis

WTI crude for Aug (CLQ26) is down 1.26% (-1.81%) and trading near a 4.25-month low, while Aug RBOB gasoline (RBQ26) is up 1.16% to a 1-week high. The oil/gas divergence suggests near-term downside pressure on crude without a fully risk-off move across the refined complex.

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Market Sentiment

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mildly negative

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