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Barchart
Barchart
Rich Asplund

Crude Prices Tumble as President Trump Vows to Boost US Crude Production

Donald Trump Oil United States OPEC

February WTI crude oil (CLG25) today is down -1.27 (-1.63%), and February RBOB gasoline (RBG25) is down -0.0113 (-0.53%).

Crude and gasoline prices today fell to 1-week lows and are moderately lower.  Crude prices tumbled today after President Trump said Monday that he plans to declare a national energy emergency and vowed to increase US crude production.  Crude is also under pressure due to trade war fears after President Trump said he may impose import tariffs as high as 25% on goods from Canada and Mexico on February 1.  Today's weaker dollar is supportive of crude prices.  

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