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Barchart
Barchart
Rich Asplund

Crude Prices Tumble on Dollar Strength and Easing Geopolitical Risks

Oil OPEC United States Donald Trump Middle East Ukraine EIA Iran Russia

March WTI crude oil (CLH26) today is down -3.27 (-5.01%), and March RBOB gasoline (RBH26) is down -0.0887 (-4.57%).

Crude oil and gasoline prices are sharply lower today amid a stronger dollar and easing geopolitical risks in the Middle East.  The dollar index (DXY00) climbed to a 1-week high today, and President Trump said the US is talking to Iran, while Iran’s foreign ministry said it hopes diplomatic efforts will avert a war.   Axios reported today that US envoy Witkoff and Iranian Foreign Minister Abbas Araghchi are set to meet in Istanbul on Friday.

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