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Rich Asplund

Crude Prices Firm on Middle East Supply Disruptions

Oil Middle East International Energy Agency Strait of Hormuz United States Iran Saudi Arabia Petrol Drone OPEC

November WTI crude oil (CLX26) is up +0.22 (+0.23%) today, and November RBOB gasoline (RBX26) is down -0.201 (-0.61%).

Crude oil prices recovered from early losses today and are slightly higher on concerns about Middle East energy-supply disruptions. Saudi Arabia has seen an increase in attacks from Houthi rebels in Yemen, while Iran has ramped up attacks on shipping in the Strait of Hormuz. Today’s weaker dollar also supports crude prices.

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