
June WTI crude oil (CLM24) this morning is down -2.21 (-2.70%), and June RBOB gasoline (RBM24) is down -7.81 (-2.90%).
Crude and gasoline prices today dropped to 1-1/2 month lows and are moderately lower. Crude prices are under pressure due to the potential for a cease-fire between Israel and Hama, which eases concerns about the escalation of the conflict and possible disruptions to Middle East crude supplies. Losses in crude accelerated today after weekly EIA crude inventories unexpectedly rose to a 10-month high.