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Barchart
Barchart
Rich Asplund

Crude Prices Jump on Dollar Weakness and Additional US Sanctions on Iran

January WTI crude oil (CLF25) today is up +1.54 (+2.26%), and January RBOB gasoline (RBF25) is up +0.0396 (+2.07%).

Crude oil and gasoline prices today are climbing due to a weaker dollar.  Crude extended its gains today after the US imposed more sanctions on Iranian crude, curbing global oil supplies.  Crude also found support after OPEC+ delegates said the group is firming up an agreement to delay its crude production increases for another three months.

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