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Rich Asplund

Crude Prices Climb as OPEC+ Set to Delay Oil Production Increases

Oil OPEC crude oil United States Hezbollah Russia Ukraine

January WTI crude oil (CLF25) today is up +0.64 (+0.93%), and January RBOB gasoline (RBF25) is up +0.0231 (+1.18%).

Crude oil and gasoline prices today recovered from early losses and moved higher after Bloomberg reported that OPEC+ had begun discussions to delay oil production further increases initially set to begin in January.   Crude prices today initially moved lower amid reports Israel and Hezbollah are close to a cease-fire, which eases geopolitical risks in the Middle East.  A stronger dollar today is also bearish for energy prices.  

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