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Barchart
Rich Asplund

Crude Prices Finish Higher on Middle East Tensions

Oil Middle East Israel United States Hezbollah OPEC

June WTI crude oil (CLM24) on Friday closed up +0.28 (+0.34%), and May RBOB gasoline (RBK24) closed up +1.07 (+0.39%).

Crude and gasoline prices posted moderate gains on Friday.  Middle East tensions are underpinning crude prices on concerns about an escalation of the Israel-Hamas war.  Israel has launched strikes against more than 40 sites linked to Hezbollah in Lebanon this week, and the Israel Defense Force said Friday that they are "in the process of accelerating readiness for continued fighting."  Gains in crude were limited Friday due to a stronger dollar.  

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