March WTI crude oil (CLH25) Tuesday closed down -0.46 (-0.63%), and March RBOB gasoline (RBH25) closed down -0.0187 (-0.88%).
Crude oil and gasoline prices Tuesday settled moderately lower, with crude sliding to a 5-week low. Crude prices are under pressure as tariff concerns eased after the US said it delayed 25% tariffs on Canada and Mexico for a month. Canada and Mexico are the US's largest crude suppliers. Crude also moved lower after the US imposed 10% tariffs on China, and China retaliated by imposing tariffs on some US goods, which raises the risk of a broader trade war that could undermine global economic growth and energy demand. Crude prices recovered from their worst levels as the dollar weakened.
