Rich Asplund on 05/21/2026

Crude Oil Prices Tumble on Hopes for Iran Peace Progress

July WTI crude oil (CLN26 ) on Thursday closed down -1.91 (-1.94%), and July RBOB gasoline (RBN26 ) closed down -0.1073 (-3.17%). Crude oil and gasoline prices erased an early rally on Thursday and settled sharply lower, with gasoline falling to a 2-week low. Crude prices tumbled on hopes that...

R Rich Asplund
Rich Asplund on 05/21/2026

Forecasts for Hot US Temps Boost Nat-Gas Prices

June Nymex natural gas (NGM26 ) on Thursday closed up +0.014 (+0.47%). Nat-gas prices on Thursday settled higher, despite a bearish EIA inventory report, as forecasts for hot US weather are expected to boost nat-gas demand from electricity providers to power increased air conditioning use. The Comm

R Rich Asplund
Andrew Hecht on 05/21/2026

How High Can Gasoline Rise During the 2026 Driving Season?

Gasoline prices tend to rise during the peak driving season, during spring and summer, when drivers put more miles on their cars. Meanwhile, hostilities in the Middle East have turbocharged gasoline’s seasonal rally, lifting prices to the highest level since the 2022 driving season, when the war in

A Andrew Hecht
Trent Klarenbach on 05/21/2026

Crude Oil: WTI Tests 50-Day Moving Average Support

Technical chart analysis shows WTI crude hitting 50-day MA support again. See why a third test could signal a breakdown affecting Canadian ag economics.Oil jackpump at sunset 2 by Evgenii Mitroshin via iStock

T Trent Klarenbach
Rich Asplund on 05/21/2026

Crude Oil Prices Jump on Doubts the Strait of Hormuz Will Reopen

July WTI crude oil (CLN26 ) today is up +3.14 (+3.20%), and July RBOB gasoline (RBN26 ) is up +0.0321 (+0.95%). Crude oil and gasoline prices are moving sharply higher today as the standoff between the US and Iran is fueling concerns that a prolonged closure of the Strait of...A sunset over a fuel

R Rich Asplund
Rich Asplund on 05/20/2026

Crude Oil Prices Plummet on Speculation Strait of Hormuz Could Soon Reopen

July WTI crude oil (CLN26 ) on Wednesday closed down -5.89 (-5.66%), and July RBOB gasoline (RBN26 ) closed down -0.1911 (-5.35%). Crude oil and gasoline prices plunged on Wednesday, with gasoline falling to a 1.5-week low. Crude price plummeted on Wednesday after President Trump said the US is in

R Rich Asplund
Rich Asplund on 05/20/2026

Nat-Gas Prices Retreat on Expectations for US Storage Levels to Build

June Nymex natural gas (NGM26 ) on Wednesday closed down -0.110 (-3.53%). Nat-gas prices on Wednesday fell from an 8-week nearest-future high and settled sharply lower. Abundant US nat-gas supplies, along with expectations that storage levels will continue to build, pressured prices on Wednesday.

R Rich Asplund
Rich Asplund on 05/20/2026

Crude Oil Prices Tumble on Hopes the Iran War Could Soon End

July WTI crude oil (CLN26 ) today is down -4.43 (-4.25%), and July RBOB gasoline (RBN26 ) is down -0.1264 (-3.54%). Crude oil and gasoline prices are falling sharply today on optimism that diplomacy may finally end the Iran war and reopen the Strait of Hormuz. Crude prices remained sharply...Satel

R Rich Asplund
Rich Asplund on 05/19/2026

Crude Oil Prices Slip on Diplomatic Hopes to End Iran War

June WTI crude oil (CLM26 ) on Tuesday closed down -0.89 (-0.82%), and June RBOB gasoline (RBM26 ) closed down -0.0645 (-1.72%). Crude oil and gasoline prices retreated on Tuesday after the dollar index ($DXY ) jumped to a 6-week high. Crude prices also moved lower after President Trump late...Oil

R Rich Asplund
Rich Asplund on 05/19/2026

Seasonal Maintenance Curbs US Nat-Gas Production and Boosts Prices

June Nymex natural gas (NGM26 ) on Tuesday closed up +0.090 (+2.98%). Nat-gas prices on Tuesday added to Monday's gains, posting an 8-week nearest-future high. Annual spring maintenance has curbed US nat-gas production and boosted prices. However, gains were limited as the annual maintenance has

R Rich Asplund
Andrew Hecht on 05/19/2026

What is Backwardation in the Crude Oil Futures Market Telling Us?

Crude oil remains in focus after events in the Middle East caused its price to double. Crude oil prices have declined from their recent high, but the jury is still out on whether they are heading for a new record high or will return to the 2025 levels at around $60 per barrel.Stacked oil barrels by

A Andrew Hecht