Crude Oil Prices Experience Modest Gains
On Friday, May WTI crude oil (CLK25) closed up by +0.21, marking a 0.31% increase. Likewise, May RBOB gasoline (RBK25) saw a slight rise of +0.0026, reflecting a 0.12% gain. The uptick in crude and gasoline prices stems from earlier developments that hinted at tighter global oil supplies.
The recent increase in crude prices received a boost from new US sanctions on Iranian crude exports. These sanctions are likely to tighten the supply further, fueling expectations of rising prices in the near future.
Check out this recommended product on Amazon:
BELAROI Summer Dresses for Women Beach Tshirt Sundress V Neck Casual Swing Tank Dress Swimsuit Cover Ups Pockets