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Barchart
Barchart
Rich Asplund

Crude Prices Firm on Geopolitical Risks and Strength in Global Energy Demand

Oil OPEC United States Russia Vortexa Israel

May WTI crude oil (CLK24) this morning is up +1.07 (+1.28%), and May RBOB gasoline (RBK24) is up +2.32 (+0.86%).

Crude and gasoline prices this morning are moderately higher, with crude posting a 5-1/4 month high and gasoline posting a 2-week high.  A weaker dollar today is supportive of energy prices.  Crude prices are also climbing on concerns that heightened geopolitical risks in the Middle East could lead to a disruption of crude supplies from the region.    In addition, better-than-expected global economic news is positive for energy demand and crude prices.  

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