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Rich Asplund

Crude Prices Finish Higher on Dollar Weakness

Oil United States Energy OPEC Canada China Aramco Vortexa

April WTI crude oil (CLJ25) Friday closed up +0.68 (+1.02%), and April RBOB gasoline (RBJ25) closed up +0.0075 (+0.36%).

Crude oil and gasoline prices posted moderate gains on Friday. Friday's slump in the dollar index (DXY00) to a 4-month low is bullish for energy prices. Also, comments from President Trump Friday lifted crude prices when he said he's "strongly considering" fresh banking sanctions and tariffs on Russia due to its continued attacks on Ukraine. Gains in crude prices were limited after Saudi Arabia cut oil prices to its Asian customers. Crude prices fell back from their best levels after Bloomberg reported that Russia is willing to discuss a temporary truce in Ukraine, provided there is progress toward a final peace settlement.

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