Crude oil and gasoline prices fell as the dollar strengthened, impacted by Trump’s meeting with Putin regarding Ukraine’s war. Eased US-China trade tensions support global growth and energy demand, but a global supply glut and reduced Middle East tensions impact prices. Reduced crude oil on tankers and OPEC+ production increases affect oil prices positively.

Ukraine targets Russian refineries, limiting crude exports and causing a fuel shortage in Russia. Iraq resumes oil exports, adding 500,000 bpd to global markets, while concerns about Russian energy exports lead to potential sanctions. US crude inventories below average, production at record high, and active US oil rigs remain modestly above a 4-year low.

Read more at Yahoo Finance: Crude Prices Slip on Dollar Strength and Ample Global Supplies