US West Texas Intermediate crude oil futures ended sharply lower on Tuesday as the US dollar strengthened towards the end of the session. The price action suggests that investors have discounted the potential bullish implications of a price cap imposed by the European Union on Russian oil and the prospect of a surge in demand in China due to the easing of COVID-19 restrictions.
On Tuesday, January WTI Crude Oil Futures was $74.25, down $2.68 or -3.48%. That United States Oil Fund ETF (USO) closed at $65.22,…
