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Barchart
Barchart
Rich Asplund

Crude Posts Moderate Gains on Tight Global Supplies

November WTI crude oil (CLX23) on Tuesday closed up +0.41 (+0.46%), and Nov RBOB gasoline (RBX23) closed down -5.21 (-2.16%).

Nov WTI crude oil and gasoline prices on Tuesday settled mixed, with gasoline falling to a 5-month low.  Tuesday's rally in the dollar index (DXY00) to a 10-1/4 month high is negative for energy prices.  Crude prices have support on tightness in global crude supplies.  Gains in crude were limited, and gasoline fell, as Tuesday's jump in T-note yields to a 16-year high may curb economic growth and energy demand.

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