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Rich Asplund

Crude Rallies on Concern of Prolonged Disruption to Middle East Oil Supplies

Oil United States Iran Donald Trump OPEC Strait of Hormuz IEA Ukraine

October WTI crude oil (CLV26) is up +1.99 (+2.32%) today, and October RBOB gasoline (RBV26) is up +0.0153 (+0.50%).

Crude oil and gasoline prices are sharply higher for a second day today, with crude oil posting a 6-week high. Crude prices are supported as fresh hostilities between the US and Iran are raising concerns about prolonged disruptions to energy flows through the Strait of Hormuz.

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