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Barchart
Barchart
Rich Asplund

Crude Prices Fall on Dollar Strength and Increased Russian Oil Exports

Oil United States Russia OPEC Donald Trump

August WTI crude oil (CLQ24) today is down -0.79 (-0.96%), and Aug RBOB gasoline (RBQ24) is down -1.72 (-0.69%).

Crude oil and gasoline prices today are moderately lower, with crude sliding to a 3-week low and gasoline falling to a 4-week low.   A stronger dollar today is weighing on energy prices.  Also, increasing Russian crude exports are negative for prices.  In addition, improved prospects for Donald Trump to win the US presidential election in November weighed on oil prices due to the expectation that Trump would pursue pro-US drilling policies if elected.  

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