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Barchart
Barchart
Rich Asplund

Crude Prices Fall on Stronger US Dollar

Oil Donald Trump United States OPEC Vladimir Putin Russia

January WTI crude oil (CLF25) today is down -0.67 (-0.95%), and January RBOB gasoline (RBF25) is down -0.0222 (-1.14%).

Crude oil prices are trading lower today on a stronger dollar.  In addition, oil prices were undercut by global political uncertainty after President-Elect Trump over the weekend threatened to take over the Panama Canal if transit rates are not cut.  That added to Mr. Trump's recent threats to slap tariffs on Canada, Mexico, and the EU, which could embroil the world oil market in a tariff war.

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