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Barchart
Rich Asplund

Crude Prices Sink on Bigger US Inventories and Easing of Tariff Concerns

Oil United States EIA OPEC Lutnick Bank of America Commerce

March WTI crude oil (CLH25) Wednesday closed down -1.15 (-1.56%), and March RBOB gasoline (RBH25) closed down -0.0150 (-0.72%).

Crude and gasoline prices Wednesday settled moderately lower, with crude falling to a 2-1/2 week low.  Crude was under pressure Wednesday from a stronger dollar, and after the weekly EIA crude and gasoline inventories rose more than expected.  Losses in crude oil accelerated Wednesday after US Commerce Secretary  nominee Lutnick said that tariffs against Canada and Mexico were not a done deal.  

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