Crude Oil Prices Jump on Uncertainty Over Middle East Supplies

September WTI crude (CLU26) is up $1.83 (+2.43%) and September RBOB gasoline (RBU26) is up $0.0777 (+2.74%) as energy prices react to heightened Strait of Hormuz reopening uncertainty tied to a proposed Iran-Oman plan. The move is further supported by a reported missile attack, raising near-term supply and risk concerns for crude and refined products.

Analysis

September WTI crude (CLU26) is up $1.83 (+2.43%) and September RBOB gasoline (RBU26) is up $0.0777 (+2.74%) as energy prices react to heightened Strait of Hormuz reopening uncertainty tied to a proposed Iran-Oman plan. The move is further supported by a reported missile attack, raising near-term supply and risk concerns for crude and refined products.