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Barchart
Barchart
Rich Asplund

Crude Prices Post Moderate Losses on US-China Trade War and Iranian Nuclear Negotiations

Oil United States China Iran OPEC Donald Trump Vortexa

June WTI crude oil (CLM25) Monday closed down -0.97 (-1.54%), and June RBOB gasoline (RBM25) closed down -0.0134 (-0.64%).

Crude oil and gasoline prices posted moderate losses on Monday.  Oil prices fell because of concern that the US-China trade war would persist after President Trump said the US would not lower tariffs on China unless "they give us something substantial."  Oil prices also declined on signs of some progress in US-Iran nuclear talks, which could eventually lead to the US lifting restrictions on Iran's crude exports.  Monday's weaker dollar was a supportive factor for crude prices.

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