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Barchart
Rich Asplund

Crude Posts Modest Gains on Dollar Weakness and Strong China Trade News

Oil China EIA OPEC United States

June WTI crude oil (CLM24) on Thursday closed up +0.27 (+0.34%), and June RBOB gasoline (RBM24) closed up +1.00 (+0.39%).

Crude oil and gasoline prices Thursday posted modest gains.  A weaker dollar (DXY00) Thursday was bullish for energy prices.  Also, better-than-expected Chinese trade news shows strength in China's economy, which is bullish due to energy demand and crude prices.  In addition, crude has carryover support from Wednesday when the EIA reported a decline in weekly crude inventories.

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