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Rich Asplund

Crude Prices Finish Higher on Energy Demand Optimism

Oil United States Donald Trump Economy EIA

February WTI crude oil (CLG25) Thursday closed up +0.60 (+0.82%), and February RBOB gasoline (RBG25) closed up +0.0181 (+0.90%).

Crude prices Thursday settled moderately higher but remained below Wednesday's 3-month high. Signs of strength in the global economy support energy demand and crude prices after German industrial production and Japanese cash earnings rose more than expected. Gains in crude oil Thursday were limited by negative carryover from Wednesday's bearish EIA report, which showed that crude inventories fell less than expected last week and that gasoline and distillate supplies rose more than expected.

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