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Barchart
Barchart
Rich Asplund

Crude Prices Climb as Prospects Dim for an Early End to Israel-Iran War

Oil Donald Trump Iran Israel OPEC United States Middle East

July WTI crude oil (CLN25) today is up +1.88 (+2.62%), and July RBOB gasoline (RBN25) is up +0.0286 (+1.29%).

Crude oil prices are sharply higher today on the increase in Middle East tensions after President Trump downplayed the prospects for an early end to the Israel-Iran war.  Today's stronger dollar is bearish for crude prices.  Also, today's weaker-than-expected US economic news was negative for energy demand and crude prices.

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