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Barchart
Barchart
Rich Asplund

Crude Prices Rally on Iran Tensions

Oil EIA Iran OPEC United States Donald Trump Ukraine Russia

March WTI crude oil (CLH26) today is up +0.62 (+0.99%), and March RBOB gasoline (RBH26) is up +0.0068 (+0.36%).

Crude oil and gasoline prices are moving higher today, with crude oil climbing to a 4-month high and gasoline climbing to a 2-month high.  Crude prices jumped today after President Trump threatened another attack on Iran unless it negotiates a nuclear deal.  Crude prices also found support from today’s weekly EIA report, which showed that crude inventories unexpectedly declined and gasoline supplies rose less than expected.  The strength of the dollar today is limiting the upside in crude prices.  

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