Crude Oil Prices Finish Sharply Higher Amid Tightening Global Supplies

Written on 05/18/2026
Rich Asplund

June WTI crude oil (CLM26 ) on Monday closed up +3.24 (+3.07%), and June RBOB gasoline (RBM26 ) closed up +0.0588 (+1.59%). Crude oil and gasoline prices rallied sharply on Monday, with crude posting a 3-week high and gasoline posting a nearly 4-year nearest-futures high. Crude prices soared on Monday...Oil production with Iran flag by EVER STOCK via Shutterstock
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