Crude oil and refined product futures moved off earlier lows but were still seeing losses heading into Friday afternoon as uncertainty continues over a possible peace deal between the U.S. and Iran.
U.S. crude prices were down about 3.5% at 11:15 a.m. ET with the NYMEX July West Texas Intermediate crude contract falling $3.14 to $84.57/bbl, more than $1 off earlier lows. August WTI was trading $3.12 lower at $83.04/bbl.
Brent crude was seeing similar losses, with the August contract down $3.22 to $87.16/bbl and September prices off by $3.05 to $86.06/bbl.
ULSD futures were off by more than 3%, with the July contract dropping by 11.14cts to $3.4017/gal, about 9cts off the day's low. August prices were moving 11.77cts lower to $3.3654/gal.
RBOB futures were moving about 2.5% lower, with July futures trading at $3.0184/gal, a loss of 8.3cts, after falling as low as $2.9619/gal earlier in the morning. August prices were down by 8.62cts to $2.9569/gal.
