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Israel-Iran conflict, reducing concerns about a disruption to Middle Eastern crude supplies and removing some of the geopolitical risk built into crude prices.  Losses in crude oil accelerated on Tuesday after President Trump said that China can continue buying Iranian oil, bolstering speculation that the US may soon relieve some sanctions on Iranian crude exports.Robusta Coffee Prices Are Still Falling. Are We Finally at an Inflection Point?Nat-Gas Prices Fall on Forecasts for Cooler US WeatherCrude Prices Tumble as Geopolitical Risks Ease in the Middle EastTired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now!On the positive side for crude was Tuesday's slide in the dollar index (DXY00) to a 1-week low.  Also, Tuesday's rally in the S&P 500 to a 4-month high demonstrated confidence in the economic outlook and was supportive of energy demand.Concern about a global oil glut is negative for crude prices.  On May 31, OPEC+ agreed to a 411,000 bpd crude production hike for July after raising output by the same amount for June.  Saudi Arabia has signaled that additional similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and punish overproducing OPEC+ members, such as Kazakhstan and Iraq.  OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production.  OPEC+ had previously planned to restore production between January and late 2025, but now that production cut won't be fully restored until September 2026.  OPEC May crude production rose +200,000 bpd to 27.54 million bpd.Gasoline prices have support from the American Automobile Association (AAA) projection that a record 61.6 million people will travel by car this Fourth of July holiday (June 28 to July 6), up 2.2% from last year and a sign of stronger gasoline demand.Oil prices continue to be undercut by tariff concerns, as President Trump recently stated that he intends to send letters to dozens of US trading partners within one to two weeks, setting unilateral tariffs ahead of the July 9 deadline that followed his 90-day pause.A decline in crude oil held worldwide on tankers is bullish for oil prices.  Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least seven days fell by -13% w/w to 79.66 million bbl in the week ended June 20.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,162.00 +15.00 (+0.24%)Dow Futures43,400.00 +94.00 (+0.22%)Nasdaq Futures22,535.50 +74.50 (+0.33%)Russell 2000 Futures2,157.30 +4.00 (+0.19%)VIX16.63 -0.13 (-0.78%)Gold3,357.70 +14.60 (+0.44%)PortfolioSign in to access your portfolioSign inTop gainersQS QuantumScape Corporation 5.67 +1.34 (+30.95%)AVAV AeroVironment, Inc. 234.94 +41.66 (+21.55%)NKTR Nektar Therapeutics 29.12 +4.67 (+19.10%)TMC TMC the metals company Inc. 7.49 +0.88 (+13.31%)LNW Light & Wonder, Inc. 94.48 +8.66 (+10.09%)Top losersSITM SiTime Corporation 203.75 -37.85 (-15.67%)SMR NuScale Power Corporation 38.66 -4.58 (-10.59%)PAYX Paychex, Inc. 137.94 -14.31 (-9.40%)EQIX Equinix, Inc. 824.31 -82.19 (-9.07%)LMND Lemonade, Inc. 41.10 -3.83 (-8.52%)Most activeNVDA NVIDIA Corporation 154.31 +6.41 (+4.33%)QS QuantumScape Corporation 5.67 +1.34 (+30.95%)LCID Lucid Group, Inc. 2.1400 -0.0300 (-1.38%)TSLA Tesla, Inc. 327.55 -12.92 (-3.79%)NU Nu Holdings Ltd. 13.23 -0.20 (-1.49%)Earnings eventsTrending tickersNVDA NVIDIA Corporation 154.31 +6.41 (+4.33%)MU Micron Technology, Inc. 127.25 -0.66 (-0.52%)SMCI Super Micro Computer, Inc. 46.61 +3.77 (+8.80%)BP BP p.l.c. 30.32 +0.49 (+1.64%)PAYX Paychex, Inc. 137.94 -14.31 (-9.40%)Top economic events