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Rich Asplund

Crude Oil Prices Remain Weak on Lack of Fresh Russian Sanctions

Oil Donald Trump United States Russia OPEC

August WTI crude oil (CLQ25) today is down -0.48 (-0.72%), and August RBOB gasoline (RBQ25) is up +0.0152 (+0.70%).

Crude oil prices continued to show weakness today after President Trump on Monday refrained from imposing new sanctions on Russian oil exports. Mr. Trump only threatened tariffs in the future on countries that buy Russian oil, such as China and India, if Russia does not agree to a ceasefire in its war against Ukraine. Oil prices were also undercut by today's rally in the dollar index.

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