Crude Oil Prices Surge as US-Iran Conflict Looks to Drag On

Written on 07/29/2026
Rich Asplund

September WTI crude oil (CLU26 ) on Wednesday closed up +5.20 (+6.56%), and September RBOB gasoline (RBU26 ) closed up +0.0815 (+2.59%). Crude oil and gasoline prices rallied sharply on Wednesday amid a fresh round of hostilities in the Middle East, which threatens global energy supplies. Gains in crude accelerated...Strait of Hormuz by artemegorovv via Shutterstock
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