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Rich Asplund

Crude Prices Erase Early Gains on Possible US-Iran Truce Proposal

Oil United States On Iran OPEC International Energy Agency Russia Ukraine Vortexa

August WTI crude oil (CLQ26) today is down -0.33 (-0.40%), and August RBOB gasoline (RBQ26) is down -0.0158 (-0.47%).

Crude oil and gasoline prices gave up overnight gains and turned lower after Reuters reported that mediators had proposed a 10-day ceasefire between the US and Iran. Prices initially moved higher today, with crude posting a 5-week high and gasoline posting a 2-month high after hostilities between the US and Iran escalated further over the weekend.

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