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Barchart
Barchart
Rich Asplund

Crude Prices Pressured by US-China Trade War and Iranian Nuclear Negotiations

Oil United States China Iran OPEC Donald Trump Vortexa

June WTI crude oil (CLM25) today is down -1.09 (-1.73%), and June RBOB gasoline (RBM25) is down -0.0184 (-0.87%).

Crude oil and gasoline prices today are sharply lower.  Oil prices are lower on concern that the US-China trade war will persist after President Trump said the US would not lower tariffs on China unless "they give us something substantial."  Oil prices are also lower on signs of some progress in US-Iran nuclear taoks, which could eventually lead to the US lifting restrictions on Iran's crude exports.  Today's weaker dollar is a supportive factor for crude prices.

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