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Barchart
Barchart
Rich Asplund

Crude Posts Moderate Gains on Libyan Export Disruptions

Oil Libya Israel United States Drone Hezbollah OPEC Russia Vortexa

April WTI crude oil (CLJ24) on Monday closed up +1.09 (+1.43%), and Apr RBOB gasoline (RBJ24) closed up +4.79 (+1.91%).

Crude oil and gasoline prices on Monday shook off early losses and settled moderately higher.  A weaker dollar on Monday was bullish for energy prices.  Also, the disruption to some Libyan crude exports is supportive of crude.  In addition, a jump in the crude crack spread Monday to a 5-month high is positive for crude prices.  

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