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Barchart
Barchart
Rich Asplund

Crude Prices Falter on Dollar Strength and Easing Middle East Tensions

Oil United States China Donald Trump OPEC Israel

February WTI crude oil (CLG25) Friday closed down -0.80 (-1.02%), and February RBOB gasoline (RBG25) closed down -0.0110 (-0.52%).

Crude and gasoline prices on Friday settled moderately lower, weighed down by a stronger dollar.  Also, Friday's action by Israel's security cabinet to approve a ceasefire and hostage-prisoner exchange deal with Hamas eases tensions in the Middle East and reduces the chances of crude supply disruptions from the region.  Stronger-than-expected economic news from the US and China on Friday signals economic strength and limits losses in crude prices.

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