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Barchart
Barchart
Rich Asplund

Crude Prices Rise on US Tariffs

Oil United States Donald Trump OPEC

March WTI crude oil (CLH25) Monday closed up +0.63 (+0.87%), and March RBOB gasoline (RBH25) closed up +0.0589 (+2.86%).

Crude oil and gasoline prices Monday moved higher, with crude posting a 1-week high and gasoline posting a 2-week high.  Crude rallied after President Trump announced tariffs on imports from Canada and Mexico, the US's largest crude suppliers, on Saturday.   Also, stronger-than-expected US economic reports supported the energy demand outlook and crude prices.  However, crude prices gave up some of their gains after the dollar index (DX00) rallied to a 3-week high, and after President Trump said he would delay tariffs on Mexico for a month.  

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