July WTI crude oil (CLN26) today is up +0.48 (+0.53%), and July RBOB gasoline (RBN26) is up +0.0431 (+1.39%).
Crude oil and gasoline prices are moving higher today, with gasoline posting a 1-week high. Concerns over the escalation of the US-Iran war are underpinning crude prices after President Trump said the US will continue attacks on Iran and threatened to seize Kharg Island, Iran’s main crude exporting hub. Today’s rally in the dollar index to a 2-month high is limiting gains in crude oil.