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Barchart
Barchart
Rich Asplund

Crude Oil Prices Rise on Dollar Weakness and Geopolitical Risks

Oil United States Iran OPEC Donald Trump Ukraine EIA Oman Russia

March WTI crude oil (CLH26) today is up +0.79 (+1.25%), and March RBOB gasoline (RBH26) is up +0.0291 (+1.51%).

Crude oil and gasoline prices recovered from early losses today and moved higher after the dollar weakened.   Also, concerns that the US-Iranian talks in Oman will not lead to a breakthrough in a nuclear deal are underpinning oil prices, after the Wall Street Journal reported that Iran stands by its refusal to end uranium enrichment, a major sticking point for the US.  Crude prices added to their gains today after the University of Michigan US Feb consumer sentiment index unexpectedly rose to a 6-month high, a positive factor for energy demand and crude prices.  

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