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Barchart
Barchart
Rich Asplund

Crude Oil Prices Erase Early Gains on a Bearish EIA Inventory Report

August WTI crude oil (CLQ26) today is down -0.54 (-0.68%), and August RBOB gasoline (RBQ26) is up +0.0206 (+0.64%).

Crude oil and gasoline prices are mixed today. Crude prices gave up an early advance and turned lower today on a bearish weekly EIA inventory report. Crude prices initially moved higher today after the US launched airstrikes against Iran for a fifth day today in response to Iranian attacks on shipping in the Strait of Hormuz, which threatens to reduce global oil supplies from the region.

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