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Crude Oil Prices Soar as Global Supplies Continue to Tighten

Geopolitics & WarEnergy Markets & PricesCommodities & Raw MaterialsCommodity Futures

June WTI crude rose $3.55 (+3.51%) and June RBOB gasoline gained $0.0801 (+2.22%) as US-Iran war negotiations stalled, keeping the Strait of Hormuz closed and tightening global oil supplies. The move reflects a sharp supply-risk premium across energy markets, with broader implications for crude and refined products.

Analysis

June WTI crude rose $3.55 (+3.51%) and June RBOB gasoline gained $0.0801 (+2.22%) as US-Iran war negotiations stalled, keeping the Strait of Hormuz closed and tightening global oil supplies. The move reflects a sharp supply-risk premium across energy markets, with broader implications for crude and refined products.

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