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Rich Asplund

Crude Prices Settle Lower on Dollar Strength and Easing Iran-Israel Tensions

Oil Iran Israel EIA OPEC United States

June WTI crude oil (CLM24) on Wednesday closed down -0.55 (-0.66%), and May RBOB gasoline (RBK24) closed up +0.76 (+0.28%).

Crude and gasoline prices Wednesday settled mixed. Strength in the dollar Wednesday undercut energy prices. Also, oil prices fell on reduced Israel-Iran tensions as it appears Iran will not respond following Israel’s retaliatory strike last Friday. Losses in crude were limited after weekly EIA crude inventories unexpectedly declined.

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