October WTI crude oil (CLV26) is down -0.17 (-0.18%) today, and October RBOB gasoline (RBV26) is up +0.0673 (+1.94%).
Crude oil and gasoline prices are mixed today, with crude falling to a 3-week low. Today’s rally in the dollar index ($DXY) to a 7-week high is bearish for energy prices. Crude prices also fell today on a report that said Iran will reopen the Strait of Hormuz in seven days if the US lifts its blockade. Crude prices recovered from their worst level after the crude crack spread rose to a record high, encouraging refiners to purchase crude oil and refine it into gasoline and distillates.
