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Barchart
Rich Asplund

Crude Prices Jump as US-Iran War at a Standstill

Oil United States Iran Strait of Hormuz Chris Wright Donald Trump OPEC EIA Energy IEA

September WTI crude oil (CLU26) closed up +2.10 (+2.55%) on Monday, and September RBOB gasoline (RBU26) closed up +0.0860 (+2.70%).

Crude oil and gasoline prices rallied to 3-week highs on Monday and settled sharply higher. Concerns that the US-Iran war will remain unresolved and keep Middle East oil supplies limited are boosting crude prices. Monday’s fall in the dollar index ($DXY) to a 2.25-month low also supported gains in energy prices.

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