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Barchart
Rich Asplund

Crude Prices Slip in Hopes of Diplomacy Reopening the Strait of Hormuz

Oil Strait of Hormuz Hormuz United States Iran Saudi Arabia IEA OPEC Red Sea Vortexa

November WTI crude oil (CLX26) is down -0.58 (-0.61%) today, and November RBOB gasoline (RBX26) is down -0.0826 (-2.48%).

Crude oil and gasoline prices are sliding today in hopes that negotiations between the US and Iran will lead to a deal to reopen the Strait of Hormuz. Weakness in the dollar today is limiting losses in crude, along with attacks by Houthi rebels against Saudi Arabia.

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