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Barchart
Barchart
Rich Asplund

Crude Prices Fall on Dollar Strength and the Outlook for Higher Iraqi Crude Exports

Oil Iraq OPEC Russia United States Ukraine

November WTI crude oil (CLX25) today is down -0.30 (-0.46%), and November RBOB gasoline (RBX25) is down -0.0079 (-0.40%).

Crude oil and gasoline prices are under pressure from today's rally in the dollar index (DXY00) to a 3-week high.  Also, the outlook for higher crude exports from Iraq is undercutting crude prices.  In addition, today's decline in stocks has led to a risk-off sentiment in asset markets, weighing on crude prices.   Today's stronger-than-expected US economic news is supportive of energy demand and is helping to limit losses in crude oil prices.

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