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Rich Asplund

Crude Oil Prices Retreat as US-Iran Peace Talks Set to Continue

Oil United States Iran Donald Trump OPEC International Energy Agency Ukraine Vortexa

August WTI crude oil (CLQ26) on Friday closed down -0.67 (-0.93%), and August RBOB gasoline (RBQ26) closed down -0.0541 (-1.78%).

Crude oil and gasoline prices gave up an early advance on Friday and moved lower as prices whipsawed on various news headlines. Crude prices initially jumped on Friday after Iran vowed to respond to the US attacks this week on Iran’s rail and maritime infrastructure. However, crude gave up its advance and turned lower after President Trump said that the US would continue peace talks with Iran.

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