Sep WTI crude oil (CLU24) today is up +0.49 (+0.64%), and Sep RBOB gasoline (RBU24) is up +0.08 (+0.03%).
Crude oil and gasoline prices today are posting modest gains. A weaker dollar today is supportive of energy prices. Strength in stocks today also boosts confidence in the economic outlook, which is positive for energy demand and crude prices. In addition, concerns that tensions in the Middle East could escalate and disrupt crude supplies are underpinning crude prices as Iran has vowed to retaliate against Israel for last week's assassination of a Hamas leader in Tehran. An increase in Russian crude production that boosts global oil supplies is limiting gains in crude.
