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Barchart
Barchart
Rich Asplund

Crude Gains on Energy Demand Optimism and Geopolitical Risks

March WTI crude oil (CLH24) this morning is up +0.45 (+0.59%), and Mar RBOB gasoline (RBH24) is down -0.20 (-0.09%).

Crude oil and gasoline prices this morning are mixed, with crude posting a 1-1/2 week high.  A weaker dollar today is supportive of energy prices.  Also, today's rally in the S&P 500 to a record high shows confidence in the economic outlook that is positive for energy demand and crude prices.   Crude also has carryover support from Thursday when Israeli Prime Minster Netanyahu dismissed the chances for a cease-fire in the Israel-Hamas war.

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