October WTI crude oil (CLV23) this morning is up +0.36 (+0.40%), and Oct RBOB gasoline (RBV23) is down -2.81 (-1.02%).
Crude oil and gasoline prices this morning are mixed, with crude climbing to a 10-month high. Dollar weakness today is supportive of energy prices. Also, stronger-than-expected economic reports from China, the world's second-largest crude consumer, support energy demand and prices. In addition, crude has carryover support from Tuesday when the International Energy Agency (IEA) and OPEC said the global oil market will be in deficit through year-end. On the bearish side is today's slump in stocks, which undercuts confidence in the economic outlook and energy demand.
