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Barchart
Barchart
Rich Asplund

Crude Prices Falter as President Trump Dials Down Rhetoric on Iran

Donald Trump Oil Iran United States OPEC Ukraine EIA Russia

March WTI crude oil (CLH26) on Friday closed down -0.21 (-0.32%), and March RBOB gasoline (RBH26) closed up +0.0069 (+0.36%).

Crude oil prices gave up an early advance and turned lower after President Trump ratcheted down the war rhetoric over Iran and said he had overnight discussions with Iran and indicated he expected them to continue, easing concerns about an imminent US attack on Iran.   Friday's stronger dollar (DXY00) was also bearish for crude.  Crude prices have been underpinned this week after President Trump warned Iran to make a nuclear deal or face military strikes.  

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