April WTI crude oil (CLJ26) today is up +2.83 (+2.94%), and April RBOB gasoline (RBJ26) is up +0.0907 (+2.90%). Crude oil and gasoline prices recovered from early losses and are sharply higher, with gasoline soaring to a 3.5-year high. Escalation of the Iran war is pushing energy prices higher today after Iran said it will attack other Middle Eastern energy infrastructure targets in retaliation for US and Israeli attacks on Iran’s energy. Crude prices maintained their gains despite an unexpected increase in weekly EIA crude inventories.
Crude prices soared today after Iran said it will target energy infrastructure in Saudi Arabia, Qatar, and the UAE in retaliation for US and Israeli airstrikes on its South Pars gas field and its Asaluyeh oil industry facilities.
