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Barchart
Barchart
Rich Asplund

Renewed Middle East Hostilities Boost Crude Oil Prices

Oil Middle East Iran Israel OPEC United States

July WTI crude oil (CLN26) today is up +1.31 (+1.45%), and July RBOB gasoline (RBN26) is up +0.0450 (+1.48%).

Crude oil prices are moving sharply higher today amid a flare-up in hostilities between Iran and Israel that threatens to derail a truce and complicate negotiations to end the war. Dollar weakness today ($DXY) is also supportive of crude prices.

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