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Barchart
Rich Asplund

Crude Gains on the Outlook for Stronger U.S Fuel Demand this Memorial Day

Oil Memorial Day United States Nymex Goldman Sachs Natural Gas

June WTI crude oil (CLM23) this morning is up +0.45 (+0.63%), and June RBOB gasoline (RBM23) is up +4.58 (+1.78%).   June Nymex natural gas (NGM23) is down -0.194 (-7.50%).

Crude oil and gasoline prices this morning are moderately higher on the outlook for stronger U.S. fuel demand this Memorial holiday weekend.  Also, Goldman Sachs projects that the global oil market is turning as supplies begin to tighten.  However, crude oil prices are being undercut by a stronger dollar today and concerns about the ongoing U.S. debt-ceiling talks.

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