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Barchart
Rich Asplund

Crude Prices Supported by Rising Middle East Tensions

Oil United States OPEC Donald Trump Israel Middle East Hamas Vortexa

April WTI crude oil (CLJ25) today is up +0.06 (+0.09%), and April RBOB gasoline (RBJ25) is up +0.011 (+0.05%).

Crude oil and gasoline prices today climbed to 2-week highs and are slightly higher.  Ramped up tensions in the Middle East are boosting crude prices after Israel launched a series of airstrikes across Gaza today.  Also, the US is  launching strikes against Houthi Rebels in Yemen for attacking shipping in the Red Sea.   Today's stronger-than-expected global economic news is also supportive for crude prices.  Gains in crude were limited by a stronger dollar and hopes for a ceasefire in Ukraine, with President Trump set to speak with Russian President Putin later today as Mr. Trump pushes for an end to the three-year conflict.  

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