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Barchart
Barchart
Rich Asplund

Crude Prices Surge as Middle East Tensions Escalate

Oil Donald Trump Middle East OPEC Iran United States Israel EIA

July WTI crude oil (CLN25) Tuesday closed up +3.07 (+4.28%), and July RBOB gasoline (RBN25) closed up +0.0520 (+2.34%).

Crude oil prices rallied sharply on Tuesday on the increase in Middle East tensions after President Trump downplayed the prospects for an early end to the Israel-Iran war.  President Trump said that he hasn't reached out to Iran for peace talks "in any way, shape or form" and that a "permanent end and not a ceasefire" to the nuclear dispute with Iran would be the goal.

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