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Barchart
Rich Asplund

Crude Prices Have Support on Dollar Weakness and Tight Supplies

Oil OPEC China EIA United States

June WTI crude oil (CLM24) today is up +0.29 (+0.37%), and June RBOB gasoline (RBM24) is up +1.75 (+0.69%).

Crude oil and gasoline rose to 1-week highs today and are moderately higher.  A weaker dollar today is bullish for energy prices.  Crude has carryover support from Wednesday's weekly EIA report, which showed declines in crude and gasoline supplies.  Mixed Chinese economic news today is limiting the upside in crude prices.

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