December WTI crude oil (CLZ25) on Thursday closed up +0.20 (+0.34%), and December RBOB gasoline (RBZ25) closed up +0.0043 (+0.22%).
Crude oil and gasoline prices settled higher on Thursday, recovering some of Wednesday's sharp sell-off. Thursday's decline in the dollar index (DXY00) to a 2-week low sparked short-covering in crude. Also, the reopening of the US government on Thursday is supportive of economic growth and energy demand. However, gains in crude were limited after Thursday's weekly EIA report showed crude inventories rose more than expected and US oil production reached a record high.
