May WTI crude rose $1.22, or 1.34%, and May RBOB gasoline gained $0.0446, or 1.47%, after recovering from early losses. Prices moved higher as the US naval blockade of the Strait of Hormuz continued to curb global supply and raise geopolitical risk to energy flows. The move is supportive for the energy complex and could keep refined product markets firm in the near term.
May WTI crude rose $1.22, or 1.34%, and May RBOB gasoline gained $0.0446, or 1.47%, after recovering from early losses. Prices moved higher as the US naval blockade of the Strait of Hormuz continued to curb global supply and raise geopolitical risk to energy flows. The move is supportive for the energy complex and could keep refined product markets firm in the near term.
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mildly positive
Sentiment Score
0.20
