October WTI crude oil (CLV23) this morning is up +0.90 (+1.04%), and Oct RBOB gasoline (RBV23) is up +4.67 (+1.78%).
Crude oil and gasoline prices this morning are moderately higher, with gasoline posting a 1-1/2 week high. A weaker dollar today is supportive of energy prices. Crude also has carryover support from Tuesday when Saudi Arabia and Russia announced that they will extend their respective crude production cuts until the end of the year. In addition, crude prices have support from Thursday's bullish EIA report that showed U.S. crude inventories fell more than expected to a 9-month low.
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