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Market Impact: 0.78

Middle East Hostilities and Bullish EIA Report Boost Crude Oil Prices

Geopolitics & WarEnergy Markets & PricesCommodity FuturesFutures & Options

July WTI crude is up $1.33 (+1.51%) and July RBOB gasoline is up 6.01 cents (+2.01%) after the US and Iran exchanged strikes overnight. The escalation raises the risk of disruption in the Strait of Hormuz, a key chokepoint for global oil flows, and is driving a sharp risk premium into energy markets.

Analysis

July WTI crude is up $1.33 (+1.51%) and July RBOB gasoline is up 6.01 cents (+2.01%) after the US and Iran exchanged strikes overnight. The escalation raises the risk of disruption in the Strait of Hormuz, a key chokepoint for global oil flows, and is driving a sharp risk premium into energy markets.

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