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Barchart
Rich Asplund

Crude Prices Pressured on Possible End to Russian-Ukraine War

Oil United States Russia Ukraine OPEC Donald Trump

September WTI crude oil (CLU25) today is down -0.30 (-0.47%), and September RBOB gasoline (RBU25) is down -0.014 (-0.07%).

Crude oil and gasoline prices dropped to 2-month lows today after Bloomberg News reported that the US and Russia are looking to reach a deal on ending the war in Ukraine, which would keep the US from ratcheting up sanctions on Russian energy exports.  Losses in crude are limited due to a weaker dollar and a rally in stocks, which shows confidence in the economic outlook that is supportive of energy demand.

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