September WTI crude oil (CLU26) closed up +3.95 (+5.05%) on Monday, and September RBOB gasoline (RBU26) closed up +0.1501 (+5.03%).
Crude oil and gasoline prices rallied sharply on Monday, with gasoline soaring to a 1-week high. The lack of an agreement between Iran and Oman to reopen the Strait of Hormuz is limiting crude supplies from the Middle East and is boosting oil prices. Also, an attack on a Saudi oil refinery by Houthi militants is further straining global fuel supplies and is pushing energy prices higher.
