February WTI crude oil (CLG24) this morning is up +2.34 (+3.18%), and Feb RBOB gasoline (RBG24) is up +4.31 (+2.01%).
Crude oil and gasoline prices this morning are sharply higher, with crude posting a 3-week high. A weaker dollar today is supportive of energy prices. Heightened geopolitical risks are giving crude prices a boost today after the U.S. military launched strikes on three installations in Iraq, targeting a terrorist group backed by Iran that was accused of a series of drone attacks on American troops. Also, the UK navy today reported attacks on two commercial vessels sailing in the Red Sea near Yemen. In addition, today's U.S. economic reports were supportive of the energy markets.
