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Barchart
Barchart
Rich Asplund

Global Supply Risks Underpin Crude Oil Prices

November WTI crude oil (CLX26) is up +2.28 (+2.52%) today, and November RBOB gasoline (RBX26) is up +0.1014 (+3.11%).

Crude oil and gasoline prices are sharply higher today as talks between the US and Iran to end the war remain deadlocked, keeping the Strait of Hormuz from fully reopening and tightening global oil supplies. Crude prices added to their gains today after the Time magazine reported that President Trump sees ramping up bombing Iran after US midterm elections as “possible.”

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