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Barchart
Barchart
Rich Asplund

Crude Prices Climb on U.S. Economic Strength

Oil EIA United States Israel Drone Economy Hezbollah OPEC Russia SP

April WTI crude oil (CLJ24) on Thursday closed up +0.70 (+0.90%), and Apr RBOB gasoline (RBJ24) closed up +3.67 (+1.45%).

Crude oil and gasoline prices on Thursday posted moderate gains.  Signs of strength in the U.S. economy supported energy demand and crude prices after Thursday's news showed weekly jobless claims fell to a 5-week low and the Feb S&P manufacturing PMI rose to a 17-month high.  Also, Thursday's rally in the S&P 500 to a new record high shows confidence in the economic outlook that supports energy demand and crude prices.

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