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Barchart
Barchart
Rich Asplund

Crude Oil Higher on Dollar Weakness and Chinese Economic Strength

Oil United States Nymex Bullard US Federal Reserve China Natural Gas St. Louis Fed

May WTI crude oil (CLK23) this morning is up +0.31 (+0.38%), and May RBOB gasoline (RBJ23) is down -1.40 (-0.50%).  May Nymex natural gas (NGK23) is up +0.061 (+2.68%).

Crude oil and gasoline prices this morning are mixed, with gasoline falling to a 2-week low.  A weaker dollar today is bullish for energy prices.  Also, signs of strength in China's economy are supportive of energy demand and crude prices.  However, crude oil prices were undercut by hawkish comments from St. Louis Fed President Bullard, who said he favored additional rate hikes from the Fed.

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