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Barchart
Barchart
Rich Asplund

Crude Prices Climb on Dollar Weakness and US Economic Strength

Oil United States OPEC EIA

February WTI crude oil (CLG25) today is up +0.65 (+0.89%), and February RBOB gasoline (RBG25) is up +0.0057 (+0.28%).

Crude oil and gasoline prices today are moderately higher, with crude oil posting a fresh 2-1/2 month high.  Today's weaker dollar is supportive of energy prices.  Signs of US economic strength also support crude prices after the Dec ISM manufacturing index rose more than expected.  Today's stock rally shows confidence in the economic outlook and is positive for energy demand and crude prices.  

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