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Barchart
Barchart
Rich Asplund

Crude Prices Jump on Dollar Weakness and US-Iran Tensions

Oil United States Iran OPEC Donald Trump EIA Ukraine Russia

March WTI crude oil (CLH26) on Tuesday closed up +1.07 (+1.72%), and March RBOB gasoline (RBH26) closed up +0.0465 (+2.51%).

Crude oil and gasoline prices recovered from early losses on Tuesday and moved sharply higher as the dollar (DXY00) weakened.  Gains in crude oil accelerated Tuesday as US-Iranian tensions ramped up after the US Navy shot down an Iranian drone that had approached an American aircraft carrier in the Arabian Sea.

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