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Barchart
Barchart
Rich Asplund

Crude Gains on a Weak Dollar and Positive China Trade News

Oil China EIA OPEC United States

June WTI crude oil (CLM24) this morning is up +0.23 (+0.29%), and June RBOB gasoline (RBM24) is up +1.43 (+0.56%).

Crude oil and gasoline prices this morning are moderately higher.  A weaker dollar (DXY00) today is bullish for energy prices.  Also, better-than-expected Chinese trade news shows strength in China's economy, which is bullish due to energy demand and crude prices.  In addition, crude has carryover support from Wednesday when the EIA reported a decline in weekly crude inventories.

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