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Rich Asplund

Crude Prices Retreat on Hopes of Descalation in the Iran-Israel Conflict

Oil Iran Israel United States OPEC

May WTI crude oil (CLK24) this morning is down -0.90 (-1.05%), and May RBOB gasoline (RBK24) is down -3.64 (-1.30%).

Crude and gasoline prices this morning are on the defensive, with crude prices falling to a 1-1/2 week low. Crude oil prices are lower on hopes that the Iran-Israeli conflict can be contained. Also, today's rally in the dollar index to a 5-1/4 month high is negative for energy prices.

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