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Market Impact: 0.32

Crude Oil Prices Erase Early Gains in Hopes of Limited US-Iran Hostilities

Energy Markets & PricesGeopolitics & WarCommodities & Raw Materials

WTI crude oil for August (CLQ26) is down 1.32 cents/bbl (-1.80%) and August RBOB gasoline (RBQ26) is down 0.0332 (-1.07%), after prices reversed lower from an early advance. The move is attributed to speculation that US-Iran hostilities may not escalate further.

Analysis

WTI crude oil for August (CLQ26) is down 1.32 cents/bbl (-1.80%) and August RBOB gasoline (RBQ26) is down 0.0332 (-1.07%), after prices reversed lower from an early advance. The move is attributed to speculation that US-Iran hostilities may not escalate further.

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