Crude Prices Fall on Iran Peace Hopes and Weak China Oil Demand

Written on 06/05/2026
Rich Asplund

July WTI crude oil (CLN26 ) today is down -1.86 (-2.00%), and July RBOB gasoline (RBN26 ) is up +0.0202 (+0.66%). Crude oil prices are under pressure today, amid hopes of a US-Iran peace settlement that would allow the reopening of the Strait of Hormuz. Also, today's rally in the...Oil tanker in open sea by StockStudio via Shutterstock
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