October WTI crude oil (CLV25) on Monday closed up +0.61 (+0.97%), and October RBOB gasoline (RBV25) closed up +0.0280 (+1.41%).
Crude oil and gasoline prices settled higher on Monday, with gasoline posting a 1-week high. Monday's weaker dollar was supportive for energy prices. Also, concerns over a decline in Russian oil exports are boosting prices after Ukraine stepped up its drone attacks on Russian refineries. In addition, Monday's rally in the S&P 500 to a new record high shows confidence in the economic outlook and is supportive of energy demand and crude prices. Gains in crude were limited after Monday's weaker-than-expected US and Chinese economic news signaled weakness in energy demand.
