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Barchart
Barchart
Rich Asplund

Crude Oil Gains on Dollar Weakness and Strength in Chinese Oil Demand

December WTI crude oil (CLZ25) today is up +0.30 (+0.50%), and December RBOB gasoline (RBZ25) is down -0.0150 (-0.76%).

Crude oil and gasoline prices are mixed today, with crude falling to a 2-week low.  Today's weaker dollar (DXY00) is supportive for energy prices as the dollar index fell to a 1-week low.  Also, strength in crude demand from China, the world's second-largest crude consumer, is supportive of prices, with China's Jan-Oct crude imports up +3.1% y/y to 471 MMT.  

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