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Barchart
Barchart
Rich Asplund

Crude Under Pressure on Prospects of a Global Supply Glut

Oil Donald Trump United States Russia OPEC Ukraine

November WTI crude oil (CLX25) today is down -0.43 (-0.75%), and November RBOB gasoline (RBX25) is down -0.0096 (-0.52%).

Crude oil and gasoline prices are under pressure today, with crude falling to a 5.5-month low.  Strength in the dollar today is weighing on crude prices.  Crude is also being undercut by negative carryover from last Thursday, when President Trump said he'll meet with Russian President Putin to discuss ending the war in Ukraine, which raises the possibility of increased Russian oil supply.  

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