December WTI crude oil (CLZ25) today is up +0.30 (+0.51%), and December RBOB gasoline (RBZ25) is up +0.0138 (+0.71%).
Crude oil and gasoline prices are moving higher today, recovering some of Wednesday's sharp sell-off. Today's decline in the dollar index (DXY00) to a 2-week low has sparked some short covering in crude. Also, today's reopening of the US government is supportive of economic growth and energy demand. However, gains in crude are limited after today's weekly EIA report showed crude inventories rose more than expected and US oil production reached a record high.
