February WTI crude oil (CLG26) today is down -2.82 (-4.56%), and February RBOB gasoline (RBG26) is down -0.0506 (-2.76%).
Crude oil and gasoline prices are falling sharply today as geopolitical risks in Iran subsided after President Trump signaled he may hold off on attacking Iran for now, after the country pledged not to execute protesters. Also, today's rally in the dollar index (DXY00) to a 6-week high is bearish for energy prices. Crude prices also have some negative carryover from Wednesday's weekly EIA inventory report, which showed a jump in crude and gasoline supplies.
