WTI Crude Drops 3.9% as Middle East Ceasefire Holds After Prior Surge
The Quick Take
- June WTI crude (CLM26) fell $4.15 (-3.90%) on May 5 as a Middle East ceasefire appeared to hold
- June RBOB gasoline (RBM26) also dropped sharply, closing down $0.1176 (-3.15%) on the same session
- The prior session (May 4) saw crude prices surge on Middle East tension flare-up, reversing sharply within 24 hours
- Sustained ceasefire holding is the key forward signal; any breakdown could rapidly reverse the price decline
- Lower oil prices ease inflationary pressure globa
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🇺🇸 United States Stocks Breaking oil gasoline geopolitics middle-east energy
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