
April WTI crude oil (CLJ24) on Wednesday closed up +0.87 (+1.13%), and Apr RBOB gasoline (RBJ24) closed up +2.22 (+0.88%).
Crude oil and gasoline prices posted moderate gains on Wednesday. Dollar weakness Wednesday was supportive of energy prices. Also, geopolitical risks continue to underpin crude prices with the possible escalation of the Israel-Hamas war to Lebanon and attacks on commercial ships in the Red Sea by Yemen's Houthi rebels. Weakness in stocks Wednesday undercut confidence in the economic outlook and limited the upside in crude prices.