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Rich Asplund

Crude Posts Moderate Gains on Global Supply Concerns

Oil Donald Trump OPEC United States Bank of America EIA

March WTI crude oil (CLH25) Tuesday closed up +0.60 (+0.82%), and March RBOB gasoline (RBH25) closed up +0.0223 (+1.09%).

Crude and gasoline prices Tuesday posted moderate gains as they recovered from Monday's 2-week lows. The outlook for global crude supplies to remain tight is supporting prices. However, gains on Tuesday were limited due to dollar strength and tariff threats from President Trump that could start a trade war that reduces global growth and energy demand.

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