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Barchart

Rich Asplund

Crude Prices Firm on US Economic News

Oil United States OPEC China Economy EIA Hamas Vortexa

May WTI crude oil (CLK25) today is up +0.29 (+0.42%), and May RBOB gasoline (RBK25) is up +0.0057 (+0.25%).

Crude oil prices today are slightly higher. Today's weaker dollar is supportive of oil prices. Better-than-expected US economic reports today signal strength in the US economy that is positive for energy demand and crude prices. Crude also has carryover support from Wednesday when weekly EIA crude inventories unexpectedly declined -3.3 million bbl. Gains in crude are limited after the US imposed 25% tariffs on auto imports, which could derail economic growth and energy demand.

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