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Barchart
Rich Asplund

Crude Oil Prices Climb on Dollar Weakness and Supply Risks

Oil OPEC United States Iran EIA IEA

February WTI crude oil (CLG26) on Monday closed up +0.38 (+0.64%), and February RBOB gasoline (RBG26) closed up +0.0132 (+0.74%).

Crude oil and gasoline prices settled higher on Monday, with crude posting a 5-week high.  Monday's dollar weakness (DXY00) is bullish for energy prices.  Also, rising tensions in Iran, the fourth-largest producer in OPEC, have heightened supply risks and are supporting crude prices amid protests against the government.  

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