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Rich Asplund

Crude Oil Prices Pressured by a Surge in Weekly EIA Inventories

Oil EIA United States OPEC Donald Trump Iran Russia Ukraine Vortexa

April WTI crude oil (CLJ26) on Wednesday closed down -0.21 (-0.32%), and April RBOB gasoline (RBJ26) is up +0.0152 (+0.68%).

Crude oil and gasoline prices gave up an early advance on Wednesday and settled mixed. Wednesday's bearish EIA inventory report weighed on crude oil prices. However, dollar weakness and geopolitical risks limited losses in crude after President Trump said Iranian officials are "again pursuing their sinister nuclear ambitions," boosting speculation that the US may be preparing a military strike on Iran in the coming days.

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