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Barchart
Barchart
Rich Asplund

Dollar Weakness Lifts Crude Prices

Oil United States Donald Trump OPEC Hamas Vortexa

May WTI crude oil (CLK25) today is up +0.11 (+0.18%), and May RBOB gasoline (RBK25) is down -0.0031 (-0.16%).

Crude oil and gasoline prices today are trading mixed.  Crude has garnered support today from a slump in the dollar index (DXY00) to a 3-year low.  However, the escalation of the US-China trade war is limiting the upside in crude prices after China today raised tariffs on all US goods to 125% from 84% in retaliation for the US raising tariffs on Chinese goods to 145%.  Crude prices also have a negative carryover from last Thursday when OPEC+ said it would boost crude production in May.  

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