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Barchart
Barchart
Rich Asplund

Crude Oil Prices Fall Sharply as Global Supply Risks Ease

Oil crude oil United States OPEC the Persian Gulf Persian Gulf

August WTI crude oil (CLQ26) on Friday closed down -2.69 (-3.74%), and August RBOB gasoline (RBQ26) closed down -0.0765 (-2.64%).

Crude oil and gasoline prices settled sharply lower on Friday, with crude posting a fresh 4-month low. An acceleration of oil tankers out of the Persian Gulf is boosting global oil supplies and hammering oil prices.

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