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Rich Asplund

EXPLAINED: Crude prices gain on dollar weakness and heightened geopolitical risks - The Real Truth

Oil United States OPEC Donald Trump China Vortexa

April WTI crude oil (CLJ25) Monday closed up +0.40 (+0.60%), and April RBOB gasoline (RBJ25) closed up +0.325 (+1.51%).

Crude oil and gasoline prices Monday rose to 1-1/2 week highs and settled moderately higher.  Monday's dollar weakness was bullish for crude prices.  Crude also rose on heightened geopolitical risks in the Middle East that could lead to a disruption of crude supplies after the US launched strikes against Houthi Rebels in Yemen for attacking shipping in the Red Sea.  Gains in crude were limited by hopes for a ceasefire in Ukraine, with President Trump set to speak with Russian President Putin this week as Mr. Trump pushes for an end to the three-year conflict.  

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