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Rich Asplund

Crude Oil Prices Tumble as End of US-Iran War Set to Boost Oil Supplies

Oil United States Iran OPEC Vortexa

July WTI crude oil (CLN26) today is down -3.76 (-4.66%), and July RBOB gasoline (RBN26) is down -0.0653 (-2.22%).

Crude oil and gasoline prices extended Monday’s sell-off today, with crude falling to a 3.25-month low and gasoline dropping to a 2.25-month low. Crude oil prices are sinking on negative carryover from Monday, when the US and Iran agreed to end their war and reopen the Strait of Hormuz.

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