Crude oil and gasoline prices rose on Tuesday, with WTI crude up +1.51% and RBOB gasoline up +2.16% after the dollar index fell to a 2-week low. Kazakhstan’s largest oil producer shut down production due to fires at key oil fields, reducing global supplies. Iranian unrest, threats from President Trump, and potential US strikes on government targets could disrupt OPEC’s fourth-largest producer. Chinese crude imports are on the rise, and OPEC+ plans to stick to production pauses due to an emerging global oil surplus. Ukrainian attacks on Russian refineries have limited oil exports and impacted global supplies.

The IEA projects a record world crude surplus in 2026, while the EIA raised its US crude production estimate to 13.59 million bpd. US inventories show a slight decrease in crude oil production, and the number of active US oil rigs increased slightly. This news is for informational purposes only and was originally published on Barchart.com.

Read more at Yahoo Finance: Crude Rallies as the Dollar Falls and Black Sea Oil Production Disrupted