January WTI crude oil (CLF26) on Monday closed down -1.20 (-2.00%), and January RBOB gasoline (RBF26) closed down -0.0360 (-1.96%).
Crude oil and gasoline prices fell sharply on Monday, with gasoline posting a 1.5-week low. Dollar strength on Monday undercut energy prices. Crude prices also fell as Monday's stock market weakness weighed on confidence in the economic outlook and energy demand. A positive for crude prices is the expectation that restrictions on Russian energy exports will remain, following Ukrainian President Zelenskiy's statement that there is no accord yet to end the Russian-Ukrainian war.
