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Market Impact: 0.35

Crude Oil Prices Jump as Ships Attacked in the Strait of Hormuz

Energy Markets & PricesGeopolitics & WarCommodity Futures

August WTI crude (CLQ26) is up +1.73 (+2.52%) while August RBOB gasoline (RBQ26) is down -0.0312 (-1.04%), leaving energy prices mixed. WTI surged after attacks on shipping in and around the Strait of Hormuz, while gasoline fell on the day. Net effect is a modest risk premium to crude with offsetting weakness in gasoline.

Analysis

August WTI crude (CLQ26) is up +1.73 (+2.52%) while August RBOB gasoline (RBQ26) is down -0.0312 (-1.04%), leaving energy prices mixed. WTI surged after attacks on shipping in and around the Strait of Hormuz, while gasoline fell on the day. Net effect is a modest risk premium to crude with offsetting weakness in gasoline.

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Market Sentiment

Overall Sentiment

mildly negative

Sentiment Score

-0.10

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