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Barchart
Barchart
Rich Asplund

Crude Prices Finish Sharply Higher on US Trade Deal Hopes and Iranian Oil Export Risks

May WTI crude oil (CLK25) Thursday closed up +2.21 (+3.54%), and May RBOB gasoline (RBK25) closed up +0.0554 (+2.71%).

Crude oil and gasoline prices rallied sharply on Thursdays to 1-1/2 week highs.  Optimism that the US will be able to make trade deals has reduced tariff concerns and boosted crude prices.  President Trump said that US negotiators made “big progress” with Japanese officials on a trade deal and expressed confidence that the US would reach a trade deal with the EU.  

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