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Rich Asplund

Crude Oil Prices Rally as President Trump Escalates Pressure on Iran

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

September WTI crude oil (CLU26) closed up +2.00 (+2.33%) on Thursday, and September RBOB gasoline (RBU26) closed up +0.0078 (+0.24%).

Crude oil and gasoline prices settled higher on Thursday, with crude oil climbing to a 1-month high. Crude prices rose 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.

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