January WTI crude oil (CLF26) on Friday closed down -0.94 (-1.59%), and January RBOB gasoline (RBF26) closed down -0.0299 (-1.62%).
Crude oil and gasoline prices tumbled to 4-week lows on Friday and settled sharply lower. Friday's rally in the dollar index (DXY00) to a 5.5-month high is bearish for energy prices. Crude prices also fell after Ukrainian President Zelenskiy said he would agree to work on a peace plan drafted by the US and Russia. Crude prices recovered from their worst levels on Friday on uncertainty regarding the peace plan after Ukraine and its European allies rejected key points of the US-Russian plan to end the war.
