December WTI crude oil (CLZ23) on Tuesday closed unchanged, and Dec RBOB gasoline (RBZ23) closed down -0.0131 (-0.59%).
Crude oil and gasoline prices Tuesday gave up early gains and settled mixed on global energy demand concerns. Crude oil prices Tuesday initially moved higher, with crude posting a 1-week high and gasoline posting a 1-1/2 week high. Tuesday's slump in the dollar index to a 2-1/4 month low was bullish for energy prices. Crude also has support from Tuesday's weaker-than-expected U.S. Oct CPI report, which bolstered speculation the Fed is done raising interest rates. In addition, Tuesday's rally in the S&P 500 to a 2-month high boosts confidence in the economic outlook that supports energy demand and crude prices.
