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Rich Asplund

Crude Oil Prices Sink on Deal to Reopen Strait of Hormuz

Oil Strait of Hormuz United States OPEC Vortexa

July WTI crude oil (CLN26) on Monday closed down -4.13 (-4.87%), and July RBOB gasoline (RBN26) closed down -0.1026 (-3.36%).

Crude oil and gasoline prices sold off sharply on Monday, with crude falling to a 2-month low and gasoline dropping to a 2-month low. Crude oil plunged on Monday after the US and Iran agreed to end their war and reopen the Strait of Hormuz.

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