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Barchart
Rich Asplund

Crude Prices Pressured as More Oil Supplies Leave the Middle East

Oil the Middle East crude oil Middle East Saudi Arabia United States IEA Iran The Red Sea the Strait of Hormuz

November WTI crude oil (CLX26) is down -1.27 (-1.42%) today, and November RBOB gasoline (RBX26) is down -0.0443 (-1.36%).

Crude oil and gasoline prices are falling today, with crude oil dropping to a 1-month low. Signs that more crude supplies are leaving the Middle East are easing global supply concerns and weighing on oil prices. Crude prices also fell after Yemeni government forces regained territory from the Houthi rebels near the Red Sea, reducing risks of attacks on shipping through the waterway.

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