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Barchart
Barchart
Rich Asplund

Crude Prices Rally on Threats to Global Supplies

Oil Iran United States International Energy Agency Saudi Arabia Strait of Hormuz Yemen Petrol Drone Gas Prices

November WTI crude oil (CLX26) is up +1.62 (+1.77%) today, and November RBOB gasoline (RBX26) is up +0.133 (+0.40%).

Crude oil and gasoline prices are moving higher today amid threats to global supplies. 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 dollar strength is a negative factor for crude prices.

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