Reduced Tanker Flows Through Strait of Hormuz Boosts Crude Prices

August WTI crude oil (CLQ26) on Monday closed up +1.52 (+2.20%), and August RBOB gasoline (RBQ26) closed up +0.0753 (+2.66%).

Crude oil and gasoline prices settled sharply higher on Monday amid escalating tensions in the Strait of Hormuz, which have slowed the flow of oil tankers through the strait.  Crude prices also found support on Monday 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 on Monday 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 stra

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/reduced-tanker-flows-strait-hormuz-191341102.html)