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Barchart
Barchart
Rich Asplund

US-Iran Peace Hopes Hammer Crude Oil Prices

Oil United States Iran Russia OPEC Ukraine IEA Strait of Hormuz

May WTI crude oil (CLK26) today is down -5.69 (-5.74%), and May RBOB gasoline (RBK26) is down -0.0822 (-2.64%).  Crude oil and gasoline prices are sharply lower today in hopes that the US and Iran will extend peace negotiations.  Crude prices extended their losses today after the US authorized some Russian crude oil transactions.

Crude prices tumbled today after Reuters reported that the US and Iran are considering extending a two-week ceasefire that expires on April 22 and could resume negotiations this week in Pakistan.  

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