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Rich Asplund

Crude Prices Slip on Dollar Strength and Easing Iran-Israel Tensions

Oil Israel Iran EIA United States

June WTI crude oil (CLM24) this morning is down -0.37 (-0.46%), and May RBOB gasoline (RBK24) is up +0.61 (+0.23%).

Crude and gasoline prices this morning are mixed. Strength in the dollar today is undercutting energy prices. Also, an easing of Israel-Iran tensions has cut oil's risk premium 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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