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Barchart
Rich Asplund

Crude Oil Posts Modest Losses on Abundant Global Supplies

Oil Donald Trump OPEC United States Russia China Ukraine

November WTI crude oil (CLX25) on Monday closed down -0.02 (-0.03%), and November RBOB gasoline (RBX25) closed down -0.0075 (-0.41%).

Crude oil and gasoline prices settled slightly lower on Monday, with crude posting a 5.5-month low.  Strength in the dollar on Monday weighed on crude prices.  Crude is also being undercut by negative carryover from last Thursday, when President Trump said he'll meet with Russian President Putin to discuss ending the war in Ukraine, which raises the possibility of increased Russian oil supply.  

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