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Rich Asplund

Crude Oil Prices Surge as US Reinstates Blockade of Iran

Oil United States crude oil Iran Donald Trump OPEC the Strait of Hormuz Drone Missile Russia

August WTI crude oil (CLQ26) today is up +3.46 (+4.87%), and August RBOB gasoline (RBQ26) is up +0.1036 (+3.47%).

Crude oil and gasoline prices are up sharply today amid an escalation of US-Iran hostilities over control of the Strait of Hormuz. Gains in crude oil accelerated today after President Trump said the US was reimposing a blockade on Iranian ships transiting the Strait of Hormuz.

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