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Barchart
Barchart
Rich Asplund

Crude Prices Tumble as the Dollar Strengthens and Iran Tensions Ease

Oil Iran United States OPEC Donald Trump Ukraine EIA Russia

March WTI crude oil (CLH26) today is down -2.22 (-3.41%), and March RBOB gasoline (RBH26) is down -0.0469 (-2.39%).

Crude oil and gasoline prices are sharply lower today after the dollar index (DXY00) rallied to a1.5-week high.  Also, US-Iran tensions eased, weighing on crude prices, after Iran confirmed it would hold talks with the US on Friday.  In addition, today's weaker-than-expected US labor market news is bearish for economic growth prospects and energy demand.

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