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Barchart
Rich Asplund

Crude Prices Tumble on Signs of Robust Global Oil Supplies

Oil United States EIA OPEC IEA

February WTI crude oil (CLG26) on Wednesday closed down -1.14 (-2.00%), and February RBOB gasoline (RBG26) closed down -0.061 (-0.36%).

Crude oil and gasoline prices sold off on Wednesday, with crude falling to a 2-week low.  Crude prices tumbled on Wednesday after the US lifted some sanctions on Venezuelan crude exports and President Trump said  Venezuela's interim authorities agreed to give up as many as 50 million bbl of "high-quality sanctioned oil" to the US.  

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