SunSirs: International Crude Oil Futures Close Sharply Lower on June 5
June 08 2026 14:25:54 SunSirs (Selena)
On June 5, international crude oil futures closed lower. The settlement price for the U.S. WTI crude oil futures contract for July delivery was $90.54 per barrel, a drop of $2.50 or 2.7%. The settlement price for the Brent crude oil futures contract for August delivery was $93.09 per barrel, a drop of $1.94 or 2.0%.
With U.S. WTI crude futures (July delivery) falling 2.7% and Brent crude futures (August delivery) falling 2.0% on June 5, the sharp decline in international crude prices acts as a significant bearish factor for both spot crude and related futures prices.
Crude oil is a core feedstock for asphalt production, accounting for a substantial portion of costs; the sharp drop in international crude prices has noticeably weakened cost support for asphalt, exerting significant downward pressure on both spot and futures prices, particularly for near-term asphalt futures contracts.
Gasoline is a direct downstream refined product of crude oil; the sharp decline in crude oil costs directly erodes the cost support for gasoline, creating a clearly bearish outlook for gasoline spot and related futures prices.
Diesel is also a downstream refined product of crude oil; the sharp pullback in international crude prices has weakened cost support, acting as a significant bearish factor for diesel spot and related futures prices.
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