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Barchart
Barchart
Rich Asplund

HISTORICAL FACTS: Crude oil prices rally on global supply risks - Caught on Camera

Oil United States OPEC Iran Donald Trump International Energy Agency Red Sea Russia Strait of Hormuz Ukraine

August WTI crude oil (CLQ26) today is up +1.75 (+2.10%), and August RBOB gasoline (RBQ26) is up +0.0017 (+0.05%).

Crude oil and gasoline prices are pushing higher today, with crude climbing to a 5-week high. The threat to global oil supplies is boosting crude oil prices today as the US-Iran war has curbed oil tanker traffic through the Strait of Hormuz and threats by Houthi militants to blockade Saudi Arabia have reduced oil tanker traffic through the Red Sea.

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