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Rich Asplund

Crude Prices Finish Higher on Hopes of Improved Chinese Energy Demand

Oil Vladimir Putin China EIA OPEC Russia United States

January WTI crude oil (CLF25) Tuesday closed up +0.22 (+0.32%), and January RBOB gasoline (RBF25) closed up +0.0043 (+0.22%).

Crude oil and gasoline prices posted modest gains on Tuesday. Crude prices rose Tuesday on carryover support from Monday when the Chinese government pledged to revive the economy, which will be positive for energy consumption. Oil prices are also seeing support from turmoil in the Middle East after rebels toppled the government of Bashar al-Assad in Syria. Tuesday's stronger dollar limited gains in crude prices.

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