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Barchart
Rich Asplund

Crude Prices Rebound as Iran Ramps Up Ship Attacks in Hormuz

Oil Iran crude oil Saudi Arabia United States IEA OPEC the Strait of Hormuz the Middle East Drone

November WTI crude oil (CLX26) closed up +0.01 (+0.01%) on Tuesday, and November RBOB gasoline (RBX26) closed up +0.0270 (+0.83%).

Crude oil and gasoline prices erased early losses on Tuesday and settled higher as short covering emerged on reports that Iran has ramped up attacks on tankers in the Strait of Hormuz. Dollar weakness on Tuesday also supported energy prices.

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