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Market Impact: 0.28

Crude Prices Strengthen as Global Oil Supplies Tighten with Strait of Hormuz Closed

Energy Markets & PricesCommodities & Raw MaterialsCommodity FuturesFutures & OptionsMarket Technicals & Flows

June WTI crude oil is up $3.13/barrel, or 3.25%, while June RBOB gasoline is up 2.41 cents/gal, or 0.72%, with crude at a 2-week high and gasoline at a 3.75-year high. The move reflects sharply stronger energy prices over the past two sessions. This is meaningful for energy markets, but the article is primarily a price update rather than a broader macro catalyst.

Analysis

June WTI crude oil is up $3.13/barrel, or 3.25%, while June RBOB gasoline is up 2.41 cents/gal, or 0.72%, with crude at a 2-week high and gasoline at a 3.75-year high. The move reflects sharply stronger energy prices over the past two sessions. This is meaningful for energy markets, but the article is primarily a price update rather than a broader macro catalyst.

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