Crude Oil Prices Soar as Global Supplies Continue to Tighten

Written on 05/15/2026
Rich Asplund

June WTI crude oil (CLM26 ) today is up +3.55 (+3.51%), and June RBOB gasoline (RBM26 ) is up +0.0801 (+2.22%). Crude oil and gasoline prices are moving sharply higher today as US-Iran war negotiations are at an impasse, keeping the Strait of Hormuz closed and tightening global oil supplies....Oil production with Iran flag by EVER STOCK via Shutterstock
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