January WTI crude oil (CLF26) on Friday closed down -0.10 (-0.17%), and January RBOB gasoline (RBF26) closed down -0.0058 (-0.32%).
Crude oil and gasoline prices fell from 1-week highs on Friday and settled lower. Crude prices came under pressure on Friday in hopes of an end to the Russian-Ukrainian war, which could lead to the end of sanctions on Russian energy and boost global oil supplies. Crude prices initially rose on Friday after the dollar index (DXY00) fell to a 1.5-week low. Crude prices also have carryover support from Wednesday, when Baker Hughes reported that active US oil rigs fell to a 4-year low, signaling smaller US oil production in the near term.
