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Rich Asplund

Crude Oil Prices Erase Early Gains in Hopes of Limited US-Iran Hostilities

Oil United States Iran OPEC Vortexa

August WTI crude oil (CLQ26) today is down -1.32 (-1.80%), and August RBOB gasoline (RBQ26) is down -0.0332 (-1.07%).

Crude oil and gasoline prices gave up an early advance today and turned lower on speculation the escalation of hostilities between the US and Iran will be limited. Crude prices initially moved higher after the US attacked Iranian targets for a second day today in response to Iranian attacks on shipping in the Strait of Hormuz.

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