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Barchart
Barchart
Rich Asplund

Dollar Weakness and Iranian Risks Boost Crude Oil Prices

Oil OPEC Iran United States Donald Trump Ukraine EIA Russia

March WTI crude oil (CLH26) today is up +1.11 (+1.83%), and March RBOB gasoline (RBH26) is up +0.0142 (+0.77%).

Crude oil and gasoline prices are climbing today, with crude oil posting a 1.5-week high.  Today's slump in the dollar index (DXY00) to a 4.25-month low is bullish for energy prices.  Crude also has support on concerns of possible US military action against Iran, which could disrupt oil supplies from OPEC's fourth-largest producer.  

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