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Barchart
Barchart
Rich Asplund

Renewed Geopolitical Risks Lift Crude Oil Prices

Oil United States OPEC Iran Donald Trump Russia Ukraine EIA

March WTI crude oil (CLH26) today is up +1.61 (+2.71%), and March RBOB gasoline (RBH26) is up +0.0314 (+1.71%).

Crude oil and gasoline prices are sharply higher today, with crude oil posting a 1-week high.  Dollar weakness today is supportive for energy prices.  Also, an increase in geopolitical risks is boosting crude prices after Russia threw cold water on hopes of a breakthrough in peace talks with Ukraine and after President Trump revived the possibility of US military action against Iran.

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