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Barchart
Rich Asplund

Crude Oil Higher on Dollar Weakness and Stronger Chinese Demand

Oil United States OPEC Russia

December WTI crude oil (CLZ25) on Friday closed up +0.32 (+0.54%), and December RBOB gasoline (RBZ25) closed down -0.0253 (-1.29%).

Crude oil and gasoline prices settled mixed on Friday.  Dollar weakness supported crude prices on Friday, when the dollar index (DXY00) fell to a 1-week low.  Also, strength in crude demand from China, the world's second-largest crude consumer, is supportive of prices, after a report on Friday showed that China's Jan-Oct crude imports rose +3.1% y/y to 471 MMT.  

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