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Market Impact: 0.55

Renewed Middle East Hostilities Boost Crude Oil Prices

Energy Markets & PricesCommodities & Raw MaterialsGeopolitics & WarCommodity FuturesFutures & Options

July WTI crude rose $1.31 (+1.45%) and July RBOB gasoline gained 4.50 cents (+1.48%) as renewed hostilities between Iran and Israel lifted energy risk premiums. The conflict raises the odds of supply disruptions and complicates truce negotiations, supporting crude and refined product prices.

Analysis

July WTI crude rose $1.31 (+1.45%) and July RBOB gasoline gained 4.50 cents (+1.48%) as renewed hostilities between Iran and Israel lifted energy risk premiums. The conflict raises the odds of supply disruptions and complicates truce negotiations, supporting crude and refined product prices.

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Market Sentiment

Overall Sentiment

mildly positive

Sentiment Score

0.40