Crude Oil Prices Sharply Higher on Supply Disruptions

Written on 07/07/2026
Rich Asplund

August WTI crude oil (CLQ26 ) on Tuesday closed up +1.89 (+2.76%), and August RBOB gasoline (RBQ26 ) closed down -0.0494 (-1.64%). Crude oil and gasoline prices settled mixed on Tuesday. Crude oil prices jumped following attacks on shipping in and around the Strait of Hormuz. Gasoline prices retreated on...Oil production with Iran flag by EVER STOCK via Shutterstock
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