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Barchart
Rich Asplund

Crude Prices End Lower as Cease-Fire Prospects in Gaza Improve

Oil United States EIA Hamas Middle East OPEC

June WTI crude oil (CLM24) on Tuesday closed down -0.70 (-0.85%), and June RBOB gasoline (RBM24) closed down -3.97 (-1.45%).

Crude and gasoline prices Tuesday posted moderate losses.   A stronger dollar (DXY00) on Tuesday pressured energy prices.  Also, an easing of Middle East tensions is weighing on crude oil.  In addition, some weaker-than-expected US economic news Tuesday was negative for energy demand prospects.  Losses in crude accelerated Tuesday on technical selling after oil prices fell below their 50-day moving average.

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