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Barchart
Barchart
Rich Asplund

Crude Prices Tumble on Ukraine Peace Hopes and Surging US Oil Supplies

Oil United States Volodymyr Zelenksyy EIA OPEC Ukraine Iran Russia Donald Trump

March WTI crude oil (CLH26) today is down -1.19 (-1.96%), and March RBOB gasoline (RBH26) is down -0.0412 (-2.19%).

Crude oil and gasoline prices are sliding today after Ukrainian President Zelenskiy signaled progress in peace talks on ending the war with Russia.   Losses in crude oil and gasoline accelerated after the EIA unexpectedly reported that crude inventories rose and gasoline supplies jumped to a nearly 5-year high.  Today’s dollar weakness is supportive for energy prices.

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