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.