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Rich Asplund

Crude Oil Prices Erase an Early Rally on Unconfirmed Iran Peace Talks

Oil Iran Diplomacy Petrol United States International Energy Agency Strait of Hormuz Middle East Red Sea Gas Prices

November WTI crude oil (CLX26) is down -0.61 (-0.59%) today, and November RBOB gasoline (RBX26) is down -0.967 (-3.03%).

Crude oil and gasoline prices erased an early rally and fell today, with gasoline down to a 7-week low, on an unconfirmed report that Qatar and Pakistan issued a fresh proposal to revive negotiations to end the Iran war. Also, today’s plunge in the crude crack spread to a 3.75-month low is weighing on crude prices.

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