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Barchart
Rich Asplund

REVEALED: Crude oil prices underpinned by dollar weakness and geopolitical risks | Rare Historical Photos

Oil United States Iran OPEC Donald Trump Ukraine EIA Oman Russia

March WTI crude oil (CLH26) on Friday closed up +0.26 (+0.41%), and March RBOB gasoline (RBH26) closed up +0.0266 (+1.38%).

Crude oil and gasoline prices recovered from early losses on Friday and moved higher after the dollar (DXY00) weakened.   Also, doubts that the US-Iranian talks in Oman will lead to a breakthrough in a nuclear deal are underpinning oil prices after the Wall Street Journal reported that Iran stands by its refusal to end uranium enrichment, a major sticking point for the US.  Crude prices also found support on Friday after the University of Michigan US Feb consumer sentiment index unexpectedly rose to a 6-month high, a positive factor for energy demand and crude prices.  

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