US-China Trade Tensions and Fears of a Big OPEC+ Production Hike Weigh on Crude

On Friday, the July WTI crude oil (CLN25) saw a decrease of -0.15 (-0.25%) and the July RBOB gasoline (RBN25) dropped by -0.0221 (-1.08%). Both crude oil and gasoline prices hit a 3-week low. The decline in prices was influenced by the strength of the dollar and the growing trade tensions between the US and China.