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Barchart
Barchart
Rich Asplund

Crude Erases Early Gains as Trump Delays Tariffs on Mexico

Donald Trump Oil Mexico United States OPEC

March WTI crude oil (CLH25) today is down -0.07 (-0.10%), and March RBOB gasoline (RBH25) is up +0.0424 (+2.06%).

Crude oil and gasoline prices today are mixed, with gasoline posting a 2-week high.  Crude today initially moved higher after President Trump on Saturday placed tariffs on imports from Canada and Mexico, the US's largest crude suppliers.   Also, stronger-than-expected US economic reports were supportive of energy demand and crude prices.  However, crude prices gave up their advance and turned lower after the dollar index (DX00) rallied to a 3-week high, and after President Trump said he would delay tariffs on Mexico for a month.  

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