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Barchart
Barchart
Rich Asplund

Crude Prices Surge as President Trump Ramps Up Pressure on Iran

Oil Donald Trump Iran OPEC United States Ukraine EIA Russia

March WTI crude oil (CLH26) on Thursday closed up +2.21 (+3.50%), and March RBOB gasoline (RBH26) closed up +0.0312 (+1.64%).

Crude oil and gasoline prices added to this week's sharp gains on Thursday, with crude oil climbing to a 4.25-month high and gasoline climbing to a 2-month high.  Geopolitical risks in the Middle East are pushing crude prices higher as President Trump is warning Iran to make a nuclear deal or face military strikes.  Dollar weakness on Thursday was also supportive for energy prices.  

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