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Rich Asplund

Crude Prices Pressured as More Oil Flows Through the Strait of Hormuz

Oil Strait of Hormuz Saudi Arabia United States IEA Iran OPEC Drone Persian Gulf Vortexa

November WTI crude oil (CLX26) is down -0.98 (-1.06%) today, and November RBOB gasoline (RBX26) is down -0.0137 (-0.43%).

Crude oil and gasoline prices are moving lower today on signs that a steady flow of crude oil is coming out of the Persian Gulf through the Strait of Hormuz, easing supply concerns. Also, today’s rally in the dollar index ($DXY) to a 2-month high is bearish for energy prices.

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