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Barchart
Barchart
Rich Asplund

Crude Moderately Lower on Possible Resumption of Venezuelan Crude Oil Exports

Oil Venezuela United States

November WTI crude oil (CLX23) on Monday closed down -1.03 (-1.17%), and Nov RBOB gasoline (RBX23) closed up +0.77 (+0.34%).

Nov WTI crude oil and gasoline prices on Monday settled mixed, with gasoline posting a 1-1/2 week high.  Crude oil prices fell back Monday as diplomatic efforts to contain the Israeli-Hamas war eased concerns the conflict will widen and threaten Middle Eastern crude supplies.  Crude prices also retreated on reports the U.S. will ease sanctions against Venezuela in exchange for its government to improve electoral conditions.  Dollar weakness on Monday limited losses in crude prices.  

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