Gas Prices Draw Trump DOJ Scrutiny
Crude oil prices are cratering in June 2026, with USO dropping 4.21% to 106.57 and an RSI of 27.46 signaling deeply oversold conditions. A US-Iran peace deal reopened the Strait…
crude oil
Oil Drops Below $75 for First Time Since Iran War
USO dropped 4.09% to $106.71, just above its 52-week low, as Brent crude fell below $74 per barrel following the US-Iran Strait of Hormuz agreement. Thin inventories at Cushing and…
VLCC Rates Surge Near $470,000 on Hormuz Hopes
USO closed at $106.93 on June 21, down nearly 4% and just above its 52-week low, even as Persian Gulf tanker rates hit 897% of benchmark levels. The freight surge…
Oil Prices Hit Pre-Iran War Lows
Crude oil prices hit their lowest point since before the Iran war began, with USO dropping 3.8% to $107.02 as U.S.-Iran ceasefire talks in Switzerland and a confirmed Strait of…
Oil Storage May Drive the Next Billion Barrels
USO is trading near its 52-week low with an RSI of 30.52, but a structural demand story is building: roughly 1 billion barrels of strategic reserve restocking across Asia could…