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Rich Asplund

Crude Prices Finish Higher on Dollar Weakness and Tight Global Supplies

Oil United States China EIA

May WTI crude oil (CLK23) on Tuesday closed up +1.79 (+2.24%), and May RBOB gasoline (RBJ23) closed up +5.73 (+2.04%).

Crude oil and gasoline prices Tuesday posted moderate gains, with gasoline climbing to a 5-1/2 month nearest-futures high. A weaker dollar today is bullish for energy prices. Also, tightness in global oil supplies is supporting crude prices with the continued halt of 400,000 bpd of Iraqi crude oil exports.

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