Crude Prices Pressured by Growing Optimism the Strait of Hormuz to Soon Reopen

Written on 08/05/2026
Rich Asplund

September WTI crude oil (CLU26 ) is down -0.61 (-0.81%) today, and September RBOB gasoline (RBU26 ) is up +0.0130 (+0.46%). Crude oil and gasoline prices added to this week's sharp losses today, with crude falling to a 3-week low and gasoline dropping to a 4.75-month nearest-futures low. Growing optimism...An oil tanker out at sea by Gerhard Traschutz via Pixabay
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