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Barchart
Rich Asplund

Crude Prices Retreat on Hopes US-Iran Peace Deal is Near

Oil United States Iran Lebanon Israel OPEC Hezbollah

July WTI crude oil (CLN26) on Thursday closed down -2.98 (-3.10%), and July RBOB gasoline (RBN26) closed down -0.0933 (-2.98%).

Crude oil prices settled sharply lower on Thursday amid hopes that the announced ceasefire between Israel and Lebanon could lead to a US-Iran peace plan that allows the reopening of the Strait of Hormuz.

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