Crude oil and refined product futures prices were falling for a second day Friday but remained on track for solid weekly gains as uncertainty remains over the future course of the conflict between the U.S. and Iran.
West Texas Intermediate crude futures were trading lower at 11:15 a.m. ET, with the August WTI contract down 77cts to $71.31/bbl and September prices dropping by 69cts to $71.21/bbl.
Brent crude losses were lighter, with September Brent down 45cts to $75.85/bbl and October prices seeing the same decline to $75.75/bbl.
Crude prices are about $3/bbl higher than where they ended last week. Gasoline futures were seeing the largest declines among refined products, with August RBOB futures falling by 8.61cts to $2.9526/gal and September prices trading 7.09cts lower to $2.7961/gal. RBOB futures are currently ahead about 5cts/gal for the week.
ULSD August futures were falling by 3.99cts to $3.5317/gal while September prices were giving back 4.56cts to $3.45/gal. ULSD futures have risen about 37cts/gal from last week's settlement.
