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Barchart
Barchart
Rich Asplund

Crude Pushes Higher as the US Strikes Houthi Rebels in Yemen

Oil United States Yemen OPEC Donald Trump China Vortexa

April WTI crude oil (CLJ25) today is up +0.21 (+0.31%), and April RBOB gasoline (RBJ25) is up +0.236 (+1.10%).

Crude oil prices today climbed to a 1-1/2 week high and are mildly higher.  Today's dollar weakness is bullish for crude prices.  Crude is also climbing on heightened geopolitical risks in the Middle East that could lead to a disruption of crude supplies from the region after the US launched strikes against Houthi Rebels in Yemen for attacking shipping in the Red Sea.  Gains in crude are limited by hopes for a ceasefire in Ukraine, with President Trump set to speak with Russian President Putin this week as Mr. Trump pushes for an end to the three-year conflict.  

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