September WTI crude oil (CLU25) on Monday closed up +0.08 (+0.13%), and September RBOB gasoline (RBU25) closed down -0.095 (-0.46%).
Crude oil and gasoline prices on Monday settled mixed. Crude prices were under pressure Monday from a stronger dollar, as the dollar index (DXY00) rose to a 1-week high. Also, expectations that the US and Russia are working toward an agreement to end the Ukraine war are weighing on crude prices as it eases concerns that the US will ramp up additional export sanctions on Russian energy supplies. However, crude recovered from early losses Monday and turned higher after comments from Ukrainian President Zelenskiy dampened hopes for a quick end to the war when he rejected any talk of Ukraine ceding territory to Russia.
