Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Rich Asplund

Crude Prices Close Higher on Dollar Weakens and Energy Demand Optimism

January WTI crude oil (CLF24) on Tuesday closed up +1.55 (+2.07%), and Jan RBOB gasoline (RBF24) closed up +0.0472 (+2.20%).

Crude oil and gasoline prices Tuesday closed moderately higher.  Tuesday's slump in the dollar index (DXY00) to a 3-1/2 month low was bullish for energy prices.  Crude prices also garnered support Tuesday from dovish Fed comments and stronger-than-expected global economic news that is positive for energy demand.  A bearish factor for crude is the ongoing dispute among Saudi Arabia and other OPEC+ members on crude production levels.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.