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Rich Asplund

Crude Prices Fall on Hopes the Israel-Iran Conflict Will De-Escalate

Oil Iran Donald Trump Israel EIA OPEC United States

July WTI crude oil (CLN25) today is down -1.06 (-1.42%), and July RBOB gasoline (RBN25) is down -0.0054 (-0.24%).

Crude oil prices today gave up an early advance and turned lower on signs that the conflict between Israel and Iran could de-escalate after President Trump said Iran reached out about the possibility of negotiations. Crude prices today initially moved higher after Iran's Supreme Leader Ayatollah Ali Khamenei said his country won't surrender to Israel after President Trump had demanded Iran's "unconditional surrender." Crude prices are falling today despite a weaker dollar and a bullish weekly EIA report.

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