January WTI crude oil (CLF26) on Wednesday closed up +0.31 (+0.53%), and January RBOB gasoline (RBF26) closed down -0.00031 (-0.17%).
Crude oil and gasoline prices settled mixed on Wednesday. Dollar weakness was supportive for energy prices on Wednesday after the dollar index (DXY00) tumbled to a 5-week low. Also, US-Russian talks failed to reach a breakthrough in ending the war in Ukraine, meaning restrictions will stay in place on Russian energy exports. Crude prices fell back from their best levels, and gasoline prices turned negative, following a bearish weekly EIA inventory report that showed an unexpected increase in crude stockpiles and a larger-than-expected build in gasoline and distillate supplies.
