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Barchart
Barchart
Rich Asplund

Crude Moves Higher on Dollar Weakness and U.S. Economic Strength

Oil crude oil United States EIA Russia Iran Vortexa

September WTI crude oil (CLU23) this morning is up +1.36 (+1.71%), and Sep RBOB gasoline (RBU23) is down -1.22 (-1.43%).

Crude oil and gasoline prices this morning are mixed.  A weaker dollar today is supportive of energy prices.   Crude also has carryover support from Wednesday's EIA report that showed U.S crude inventories fell to their lowest in 8 months.  Crude also moved higher on today's better-than-expected U.S. economic news, which shows strength in the economy that supports energy demand.  Concerns about China's economy are limiting the upside in crude prices.

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