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Barchart
Barchart
Rich Asplund

Crude Pushes Higher as Russian Crude Output Falls

Oil United States Russia OPEC China

March WTI crude oil (CLH25) today is up +0.82 (+1.13%), and March RBOB gasoline (RBH25) is up +0.0399 (+1.90%).

Crude oil and gasoline prices today rallied to 1-week highs and are moderately higher.  Today's weaker dollar is supportive of energy prices.  Also, signs that US sanctions are hurting Russian crude production are bullish for oil prices.   Gains in crude are limited on concern that President Trump's 25% tariffs on all steel, aluminum, and finished metals imports into the US will encourage retaliation that curbs US economic growth and energy demand.  

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