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Crude Oil WTI Sep '23 (CLU23)

80.35s -0.37 (-0.46%) 08/22/23 [NYMEX]
N/A x N/A N/A x N/A
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Crude Oil WTI Prices for Tue, Aug 22nd, 2023
Find the latest Crude Oil WTI prices and Crude Oil WTI futures quotes for all active contracts below.
Latest futures price quotes as of Thu, Feb 27th, 2025.
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Crude Oil WTI Futures Market News and Commentary

Expectations for US Tariffs on Canada and Mexico Boosts Crude Prices

April WTI crude oil (CLJ25) Thursday closed up +1.73 (+2.52%), and April RBOB gasoline (RBJ25) closed up +0.0496 (+2.26%).

Crude oil and gasoline prices rallied Thursday after President Trump confirmed plans to impose tariffs on Canada and Mexico, the two top suppliers of crude to the US, starting March 4.   Crude also has carryover support from Wednesday, when weekly EIA crude inventories unexpectedly declined.   Thursday's rally in the dollar index to a 1-week high is a bearish factor for crude.  

President Trump confirmed Thursday that US tariffs on Canadian and Mexican goods will begin on March 4.  The tariffs may spark a trade war between both countries, boosting US crude import prices.  The US receives about 4 million bpd of crude from Canada and about 400,000 bpd from Mexico.

Oil prices are undercut after Iraq's oil minister said Wednesday that his country had reached an agreement with Kurdistan to resume exporting crude via an oil pipeline through Turkey.  ... Read more

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