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Barchart
Rich Asplund

Crude Prices Fall on Iran Peace Hopes and Weak China Oil Demand

Oil Iran China United States OPEC Strait of Hormuz

July WTI crude oil (CLN26) today is down -1.86 (-2.00%), and July RBOB gasoline (RBN26) is up +0.0202 (+0.66%).

Crude oil prices are under pressure today, amid hopes of a US-Iran peace settlement that would allow the reopening of the Strait of Hormuz. Also, today's rally in the dollar index ($DXY) to a 1.75-month high is weighing on crude prices.

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