November WTI crude oil (CLX25) on Thursday closed down -1.04 (-1.66%), and November RBOB gasoline (RBX25) closed down -0.0269 (-1.41%).
Crude oil and gasoline prices retreated on Thursday due to a rally in the dollar index (DXY00) to a 2.25-month high. Also, cooling tensions in the Middle East reduces the chances of disruptions to the region’s crude supplies and is weighing on prices after Israel and Hamas agreed to a ceasefire. Losses in crude accelerated after a slide in stocks sparked a risk-off sentiment in asset markets.
