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Barchart
Rich Asplund

Fears of Iran Escalation Lift Crude Oil Prices

Oil Iran EIA United States OPEC IEA

February WTI crude oil (CLG26) today is up +0.35 (+0.57%), and February RBOB gasoline (RBG26) is down -0.0066 (-0.36%).

Crude oil and gasoline prices are mixed today, with crude climbing to a 2.5-month high.  Fears of an escalation in tensions in Iran, which could disrupt crude supplies from OPEC’s fourth-largest producer, are pushing oil prices higher.  Crude prices fell back from their best levels, and gasoline prices turned negative after a bearish EIA inventory report showed a jump in crude and gasoline supplies.    

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