Crude Prices Surge on Possible Escalation of US-Iran War

Written on 10/08/2026
Rich Asplund

November WTI crude oil (CLX26 ) is up +4.54 (+5.14%) today, and November RBOB gasoline (RBX26 ) is up +0.1462 (+4.52%). Crude oil and gasoline prices are soaring today on signs of possible escalation of the US-Iran conflict. Also, surging freight costs to ship crude oil out of the Middle...Satellite view of the Middle East and the Strait of Hormuz with Iran highlighted_ Image by FoxPictures via Shutterstock_
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