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Barchart
Barchart
Rich Asplund

Crude Prices Fall on a Stronger Dollar

Oil OPEC Vladimir Putin United States Russia

January WTI crude oil (CLF25) Thursday closed down -0.67 (-0.95%), and January RBOB gasoline (RBF25) closed down -0.0200 (-1.03%).

Crude oil and gasoline prices settled moderately lower on Thursday, with gasoline falling to a 1-1/2 week low.  Thursday's rally in the dollar index (DXY00) to a 2-year high was bearish for energy prices.  Losses in crude were limited due to Thursday's stronger-than-expected US economic news, a sign of strong energy demand.  Crude also had some positive carryover from Wednesday after Kazakhstan pledged to comply with OPEC+ production quotas.  

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