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Rich Asplund

Crude Prices Surge on Security Risks in Iraq

Oil OPEC Iraq EIA United States Donald Trump

July WTI crude oil (CLN25) Wednesday closed up +3.17 (+4.88%), and July RBOB gasoline (RBN25) closed up +0.0788 (+3.77%).

Crude oil and gasoline prices rallied sharply on Wednesday, with crude posting a 2-1/4 month high and gasoline posting a 3-week high. Wednesday's weaker dollar was supportive of energy prices. Also, comments from President Trump boosted crude prices when he announced a trade deal with China and expressed doubts about nuclear talks with Iran.

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