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Barchart
Barchart
Rich Asplund

Crude Gains on Dollar Weakness and Reduced Russian Oil Exports

Oil United States Russia OPEC EIA Vortexa

December WTI crude oil (CLZ25) today is up +0.44 (+0.74%), and December RBOB gasoline (RBZ25) is down -0.0119 (-0.62%).

Crude oil and gasoline prices are mixed today, with gasoline falling to a 2-week low.  Crude garnered support today from a weaker dollar and a sharp rally in stocks, which reflect confidence in the economic outlook supportive of energy demand.  Crude also has support ahead of sanctions on Russia's Rosneft PJSC and Lukoil PJSC, set to take effect on Friday, which will further curb Russian oil supplies.  Gasoline prices are under pressure on negative carryover from Wednesday when weekly EIA gasoline supplies rose more than expected.

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