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Barchart
Rich Asplund

Crude Oil Prices Supported by Middle East Tensions

Oil Middle East United States EIA OPEC Donald Trump Iran

August WTI crude oil (CLQ25) today is up +0.48 (+0.73%), and August RBOB gasoline (RBQ25) is down -0.63 (-0.30%).

Crude oil and gasoline prices today are mixed, with crude prices climbing to a 1-week high.  Crude has support on concerns that Middle East tensions could flare up again after Iran moved to cut off communications with the International Atomic Energy Agency (IAEA).  Gains in crude are limited due to a stronger dollar and an unexpected build in weekly EIA crude inventories.

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