OPEC+ Geopolitical Risk Fuels Crude Gains: CLH26 +1.24%, RBH26 +1.84%

Crude oil and gasoline prices climbed sharply on February 9, 2026. March WTI (CLH26) rose +1.24% to +0.79¢, and March RBOB gasoline (RBH26) gained +1.84% to +0.0360¢, the latter reaching a 2.5-month high. The dollar index (DXY) hit a 1-month low, pushing energy higher. Geopolitical risk increased as the U.S. issued a maritime advisory steering vessels away from Iranian waters, including the Strait of Hormuz, amid ongoing negotiations with Iran and fears of potential military action. The University of Michigan’s February consumer sentiment index surprised upward to a 6-month high, supporting energy demand. OPEC+ maintained its pause on production increases through Q1 2026, while higher Venezuelan crude exports and reduced Russian exports due to ongoing conflict and sanctions weighed on supply.