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Rich Asplund

Crude Closes Slightly Lower on Hopes of Descalation in the Iran-Israel Conflict

Oil Iran Israel United States OPEC

May WTI crude oil (CLK24) on Monday closed down -0.25 (-0.29%), and May RBOB gasoline (RBK24) closed down -1.90 (-0.68%).

Crude and gasoline prices on Monday posted moderate losses, with crude prices falling to a 1-1/2 week low. Crude oil prices are lower on hopes that the Iran-Israeli conflict can be contained. Also, Monday's rally in the dollar index (DXY00) to a 5-1/4 month high is negative for energy prices.

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