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Barchart
Rich Asplund

Crude Prices Tumble as Prospects Improve for a US-Iran Nuclear Deal

Oil United States Iran Donald Trump OPEC China Vortexa

June WTI crude oil (CLM25) today is down -1.73 (-2.74%) and June RBOB gasoline (RBM25) is down -0.0442 (-2.04%).

Crude oil and gasoline prices today are sharply lower after President Trump said the US and Iran are getting closer to a nuclear deal, which could ease sanctions on Iranian crude exports and boost global oil supplies.  Also, today's projection from the International Energy Agency (IEA) that global oil demand growth will slow for the rest of this year is weighing on crude prices.  Today's weaker dollar is limiting the downside for crude prices.

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