Oil

The price is 10 cents lower than what it was a year ago.

U.S. economic growth slowed less than expected strengthening the outlook for oil consumption.

Prices were also supported by a fall in U.S. crude stocks by nearly 11 million barrels.

About a fifth of the world's oil flows through Strait of Hormuz.

The company operating the facility, Philadelphia Energy Solutions, filed for Chapter 11 bankruptcy. It's the second time the company has filed such paperwork in less than two years.

I'm not going to speculate on how much of a short-term spike will take place on the heels of rising tensions -- even war -- in the Middle East, but the smart money will sell into that rally.

Earnings, adjusted for asset impairment costs, were 35 cents per share.

Last week, WTI fell over 7 percent and Brent lost more than 6 percent.

Drone shoot downs and seized tankers escalate in the Strait of Hormuz.

Is Iran getting desperate over sanctions?

Prices were further weighed down after the U.S. equities market opened lower.

Barry, which came ashore on Saturday in central Louisiana as a Category 1 hurricane, prompted oil companies to shut nearly 74 percent of production at U.S. Gulf of Mexico platforms ahead of the storm.

Oil prices slipped as President Trump and Secretary of State Mike Pompeo signaled Iran tensions may ease.

Since July 10, 7.8 million barrels of oil, or nearly two-thirds of the United States daily oil production, has been lost from Barry, which has become a post-tropical cyclone and was moving over eastern Missouri on Tuesday.