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Rich Asplund

Crude Oil Prices Slip as Oil Supplies Leave the Middle East

Oil Middle East International Energy Agency United States Strait of Hormuz Iran Petrol Red Sea Saudi Arabia Drone

November WTI crude oil (CLX26) is down -0.62 (-0.61%) today, and November RBOB gasoline (RBX26) is down -0.147 (-0.45%).

Crude oil and gasoline prices are sliding today amid a stronger dollar and signs that crude supplies are moving out of the Middle East. Losses in crude are limited amid ongoing hostilities in the Middle East that are disrupting energy supplies from the region as Houthi rebels from Yemen continue to launch missile and drone attacks against Saudi Arabia, and Iran continues attacking tankers attempting to transit through the Strait of Hormuz.

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