December WTI crude oil (CLZ26) is down -0.76%, while December RBOB gasoline (RBZ26) is up +1.25%.
Crude oil prices are trading lower today on some relief after the US and Israel did not launch a military attack over the weekend. Also, top officials from Saudi Arabia, Pakistan, and Turkey met with Iranian leaders in Tehran today to discuss regional security and the possibility of de-escalating hostilities. The four countries said they would hold additional meetings. In conjunction with the meeting, Iranian President Masoud Pezeshkian said that Iran is ready to back “any understanding” that leads to regional unity, and he said Iran is not seeking nuclear weapons.
