Crude Oil Prices Climb as Tanker Traffic Slows Through Strait of Hormuz

August WTI crude oil (CLQ26) today is up +1.23 (+1.78%), and August RBOB gasoline (RBQ26) is up +0.0732 (+2.59%).

Crude oil and gasoline prices are moving sharply higher today amid escalating tensions in the Strait of Hormuz, which have slowed the flow of oil tankers through the strait.  Crude prices also found support today from a weaker dollar and strength in equity markets.  Crude prices fell back from their best level after the US and Iran backed away from a fresh escalation of hostilities and agreed to stop attacking each other.

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Crude prices jumped today on concerns about the viability of the current ceasefire between the US and Iran.  Late Friday, the US attacked several Iranian military installations in retaliation for Iran's attack on Thursday of a container ship in the strait.  The US then attacked Iran again on Saturday after Iran attacked a tanker carrying

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/crude-oil-prices-climb-tanker-153502616.html)