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Barchart
Barchart
Rich Asplund

Crude Oil Gains as Iraq Dispute Curbs Crude Exports

May WTI crude oil (CLK23) this morning is up +0.71 (+0.98%), and May RBOB gasoline (RBJ23) is up +2.60 (+0.98%).  April Nymex natural gas (NGJ23) is down -0.006 (-0.29%).

Crude oil and gasoline prices this morning extended Monday's sharp rally to 2-week highs.  Dollar weakness today is supportive of energy prices.  Also, a legal dispute between Iraq, Kurdistan, and Turkey has halted 400,000 bpd of crude flows, tightening global crude supplies.

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