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Rich Asplund

Crude Prices Pressured by a Stronger Dollar and Weak US Economic News

Oil United States OPEC China EIA Russia

April WTI crude oil (CLJ25) today is down -1.50 (-2.07%), and April RBOB gasoline (RBJ25) is down -0.0362 (-1.56%).

Crude oil prices today are moving lower, with gasoline dropping to a 2-week low. Today's stronger dollar is weighing on energy prices. Also, today's US economic news was mostly weaker than expected and bearish regarding energy demand. Oil prices continue to be undercut by the thaw in US-Russian relations and possible peace talks on the Russia-Ukraine war, which could eventually lead to reduced sanctions on Russia and the full resumption of Russian oil exports.

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