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Barchart
Rich Asplund

Crude Oil Prices Jump as Hopes Dim of Reopening the Strait of Hormuz

Oil Donald Trump Strait of Hormuz United States Iran Strait OPEC Chris Wright Energy IEA

September WTI crude oil (CLU26) is up +2.03 (+2.37%) today, and September RBOB gasoline (RBU26) is up +0.0008 (+0.02%).

Crude oil and gasoline prices are moving higher today, with crude oil climbing to a 1-month high. Crude prices are rising after President Trump threatened to crush Iran’s economy, dampening any hopes of a resolution to the US-Iran war and the reopening of the Strait of Hormuz. Also, today’s decline in the dollar index to a 3-month low supports energy prices.

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