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Rich Asplund

Crude Prices Slip on Dollar Strength and Tariff Concerns

Oil Donald Trump OPEC United States EIA

March WTI crude oil (CLH25) Wednesday closed down -0.39 (-0.51%), and March RBOB gasoline (RBH25) closed down -0.0286 (-1.35%).

Crude and gasoline prices Wednesday settled moderately lower, with gasoline falling to a 1-1/2 week low. Wednesday's stronger dollar was bearish for energy prices. Also, President Trump's threat to impose a 10% tariff on Chinese goods may start a trade war that curbs global growth and would be bearish for energy demand and crude prices. Losses in crude were limited after President Trump warned that he will impose additional sanctions on Russia if Russian President Putin doesn't negotiate on Ukraine.

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