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Barchart
Barchart
Rich Asplund

Crude Prices Tumble on Hopes for an End to the Russian-Ukrainian War

Oil United States Russia OPEC Ukraine EIA Vortexa

January WTI crude oil (CLF26) today is down -1.37 (-2.33%), and January RBOB gasoline (RBF26) is down -0.0363 (-1.99%).

Crude oil and gasoline prices sold off to 5-week lows today on expectations that an end to the Russia-Ukraine war could boost global oil supplies as restrictions on Russian energy exports are removed.  Also, weaker-than-expected US economic news today is negative for energy demand and crude prices.

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