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Rich Asplund

Crude Oil Prices Sink as Talks Signal Progress on Reopening Strait of Hormuz

Oil crude oil Donald Trump Strait OPEC Iran United States Russia the Middle East Ukraine

September WTI crude oil (CLU26) closed down -4.33 (-5.11%) on Monday, and September RBOB gasoline (RBU26) closed down -0.1475 (-4.74%).

Crude oil and gasoline prices settled sharply lower on Monday, with gasoline falling to a 3-week low. Easing tensions in the Middle East weighed on crude prices on Monday after President Trump called off planned strikes on Iran and Iran said progress was being made in negotiations with Oman to get more ships moving through the Strait of Hormuz.

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