Crude Oil Prices Surge as Closure of Hormuz Threatens Supply Shortages
Yahoo Finance·2026-04-23 03:19
June WTI crude oil (CLM26) on Wednesday closed up +3.29 (+3.67%), and June RBOB gasoline (RBM26) closed up +0.1201 (+3.84%). Crude oil and gasoline prices rallied sharply on Wednesday, with gasoline posting a 3-week high. Energy prices surged on Wednesday as the cancellation of peace talks between the US and Iran keeps the Strait of Hormuz closed and disrupts global oil supplies. Wednesday’s weekly EIA report was mixed for crude oil and products. Gains in crude oil accelerated on Wednesday amid concer ...