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Barchart
Barchart
Rich Asplund

Crude Oil Prices Retreat as Supply Fears Ease

Oil EIA Strait of Hormuz United States IEA OPEC Israel Saudi Arabia Iran Red Sea

October WTI crude oil (CLV26) is down -4.07 (-3.85%) today, and October RBOB gasoline (RBV26) is down -0.-0350 (-1.01%).

Crude oil and gasoline prices are sharply lower today on signs that crude supplies are getting through the Strait of Hormuz, easing supply concerns. Losses in crude accelerated today after weekly EIA crude inventories fell less than expected and gasoline and distillate supplies rose more than expected.

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