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Barchart
Barchart
Rich Asplund

Crude Prices Slip as Geopolitical Risks Ease

May WTI crude oil (CLK24) this morning is down -0.91 (-1.05%), and May RBOB gasoline (RBK24) is down -3.95 (-1.42%).

Crude and gasoline prices this morning are moderately lower as geopolitical risks in the Middle East eased slightly after Israel said it would remove some of its troops from Gaza.  Losses in crude are limited by a weak dollar and reports that there has been no progress in ceasefire negotiations between Hamas and Israel.  Also, tensions remain high between Israel and Iran after Iran vowed revenge on Israel for an airstrike on its consulate in Syria that killed some top Iranian military commanders, raising fears that the Israel-Hamas war could more directly involve Iran.  

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