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Barchart
Barchart
Rich Asplund

Crude Posts Modest Gains on US Energy Demand Optimism and Bullish EIA Report

Nov WTI crude oil (CLX24) Thursday closed up +0.28 (+0.40%), and Nov RBOB gasoline (RBX24) closed up +0.65 (+0.32%).

Crude prices Thursday posted modest gains.  Stronger-than-expected US economic news Thursday was supportive of energy demand and crude prices.  Also, Thursday's rally in the S&P 500 to a new record high shows confidence in the economic outlook that is positive for energy demand.  Crude prices also found support on Thursday's bullish weekly EIA report.  

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