Crude Oil Prices Drop on Increased Traffic Through Strait of Hormuz

Written on 07/30/2026
Rich Asplund

September WTI crude oil (CLU26 ) closed down -0.87 (-1.03%) on Thursday, and September RBOB gasoline (RBU26 ) closed down -0.0945 (-2.93%). Crude oil and gasoline prices gave up an overnight advance and settled lower on Thursday in hopes of a diplomatic solution to the US-Iran war. Crude prices also...An oil tanker out at sea by Gerhard Traschutz via Pixabay
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