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Barchart
Barchart
Rich Asplund

Crude Prices Weaken on Dollar Strength

Oil OPEC United States Russia

July WTI crude oil (CLN24) today is down -0.08 (-0.10%), and July RBOB gasoline (RBN24) is down -0.41 (-0.17%).

Crude oil and gasoline prices today are slightly lower.  Today's rally in the dollar index to a 4-week high is undercutting energy prices.  Also, an increase in Russian crude exports is adding to global oil supplies and is weighing on prices.  Crude oil prices have carry-over support from last Thursday when Saudi Arabia Energy Minister Prince Abdulaziz bin Salman said OPEC+ could pause or reverse its decision to boost crude production if prices falter.

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