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Barchart
Barchart
Rich Asplund

Crude Posts Moderate Gains on Chinese Stimulus

Nov WTI crude oil (CLX24) Monday closed up +1.34 (+1.94%), and Nov RBOB gasoline (RBX24) closed up +1.27 (+0.63%).

Crude and gasoline prices Monday posted moderate gains.  Monday's action by Chinese banks to cut interest rates may spur economic growth and is bullish for crude prices.  Also, heightened Middle East tensions are underpinning crude prices.  However, Monday's rally in the dollar index (DXY00) to a 2-1/2 month high limited gains in energy prices.  

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