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Barchart
Barchart
Rich Asplund

Crude Moves Higher on Tight Global Supplies

November WTI crude oil (CLX23) this morning is up +0.78 (+0.88%), and Nov RBOB gasoline (RBX23) is down -4.96 (-2.06%).

Nov WTI crude oil and gasoline prices this morning are mixed, with gasoline falling to a 5-month low.  Today's rally in the dollar index to a 10-1/4 month high is negative for energy prices.  Crude prices have support on tightness in global crude supplies.  Gains in crude are limited, and gasoline fell, as today's jump in T-note yields to a 16-year high may curb economic growth and energy demand.

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