January WTI crude oil (CLF26) today is down -1.23 (-2.08%), and January RBOB gasoline (RBF26) is down -0.0362 (-1.96%).
Crude oil and gasoline prices tumbled to 4-week lows today and are sharply lower. Today's rally in the dollar index (DXY00) to a 5.5-month high is bearish for energy prices. Crude prices are also falling after Ukrainian President Zelenskiy said he would agree to work on a peace plan drafted by the US and Russia. Crude prices recovered from their worst levels today after Ukraine and its European allies rejected key points of the US-Russian plan to end the war.
