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Rich Asplund

Crude Moderately Higher on Dollar Weakness and Stock Gains

Oil OPEC United States Donald Trump Iran China Hamas Vortexa

June WTI crude oil (CLM25) today is up +0.21 (+0.34%), and June RBOB gasoline (RBM25) is up +0.0069 (+0.33%).

Crude oil and gasoline prices today are moderately higher. Today's weaker dollar (DXY00) is supporting energy prices. Also, today's strength in stocks shows confidence in the economic outlook that supports energy demand. Gains in crude are limited on concern the China-US trade war will drag on and undercut economic growth and energy demand after China's Commerce Ministry said, "any reports on development in trade talks are groundless."

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