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Barchart
Barchart
Rich Asplund

Crude Prices Climb on Possible De-Escalation of US-China Trade Tensions

United States Oil China crude oil Donald Trump EIA Iran OPEC WTO Hamas

May WTI crude oil (CLK25) today is up +1.27 (+2.07%), and May RBOB gasoline (RBK25) is up +0.0139 (+0.69%).

Crude oil and gasoline prices today are moderately higher.  Today's slide in the dollar is supportive of crude prices.   Also, the prospects of de-escalating US-China trade tensions are positive for crude after China said it's open to US trade talks.  Crude also garnered support from today's bullish EIA inventory report.  Gains in crude are limited after the WTO cut its 2025 global trade estimate.

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