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Barchart
Barchart
Rich Asplund

Crude Slightly Lower, Awaiting US Tariff News

Oil United States OPEC

March WTI crude oil (CLH25) today is down -0.02 (-0.03%), and March RBOB gasoline (RBH25) is down -0.0067 (-0.32%).

Crude and gasoline prices today are slightly lower, with crude posting a 4-week low.  Today's rally in the dollar index to a 1-week high is undercutting energy prices.  Crude prices also came under pressure after a tanker departed Russia's Ust-Luga port with crude today, suggesting limited impact from Ukraine's drone strike on the facility.  Limiting losses are concerns about a possible +25% tariff on Canadian and Mexican goods starting Saturday that could curb US crude supplies, with Canada and Mexico being the two largest exporters of crude to the US.  

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