Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Rich Asplund

Hormuz Attacks and Hurricane Isaias Underpin Crude Prices

November WTI crude oil (CLX26) closed up +0.36 (+0.39%) on Friday, and November RBOB gasoline (RBX26) closed down -0.208 (-0.63%).

Crude oil and gasoline prices settled mixed on Friday. Crude prices shook off early losses and moved higher Friday on concerns about disruptions to Middle East energy supplies after Iran said it targeted a tanker attempting to transit the Strait of Hormuz. Crude prices were also supported Friday as a hurricane in the US Gulf curbed some US crude production and could also reduce refining capacity. Dollar strength limited crude gains on Friday. Also, an easing of Middle East tensions weighed on crude oil after President Trump said the US would not attack Iran ahead of next month’s midterm elections, citing “productive discussions” with Iran.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.