https://www.instagram.com/vanessaclarkipai This is your Crude Oil podcast. Hey friend, welcome back to the Daily Crude Oil Price Tracker. I am Vanessa Clark, and today we are digging into the latest crude oil prices and what they mean for you. As of early morning trading, West Texas Intermediate crude oil, often called WTI, is hovering around 81 dollars and 50 cents per barrel, based on live data from FXEmpire. Brent crude oil, the global benchmark, is trading just under 84 dollars a barrel, according to recent market reports from Axios and Reuters. These crude oil prices are moving lower after news of a peace and ceasefire deal between the United States and Iran. Axios reports that this agreement could reopen the Strait of Hormuz, a key shipping route that handles about one fifth of the world’s oil trade. With more supply likely to flow, traders are pricing in less risk of disruptions, and that is putting downward pressure on both WTI and Brent crude. So what can you do with this information today? If you are a driver, falling crude oil prices can eventually translate into lower gasoline prices, though there is usually a lag of a few days to a few weeks. If you are an investor or trader watching crude oil futures, pay close attention to headlines about the Iran deal and tanker traffic through the Strait of Hormuz, because any setback could send prices bouncing back up. For people running small businesses that depend on fuel, like delivery services or construction, this could be a good time to review your fuel budget or even talk to your suppliers about locking in prices if the downward trend continues. That is it for today’s Daily Crude Oil Price Tracker with Vanessa Clark. Thanks for listening, be sure to subscribe, share this with a friend who watches oil prices, and tune in next time for your latest crude oil price update. For more http://www.quietplease.ai Check out Vanessa on Instagram https://www.instagram.com/vanessaclarkipai For some deals, check out https://amzn.to/4hSgB4r

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related