May WTI crude oil (CLK24) this morning is up +0.75 (+0.88%), and May RBOB gasoline (RBK24) is up +2.56 (+0.93%).
Crude and gasoline prices this morning are moderately higher, with crude posting a 5-1/4 month high and gasoline posting a 7-month high. A weaker dollar today is supportive of energy prices. Crude also rose on today's decision by OPEC+ to stick with its crude production cuts until the end of June, which will keep global oil supplies tight. Crude prices fell back from their best levels today after weekly EIA crude inventories unexpectedly rose to an 8-month high.
