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Barchart
Barchart
Rich Asplund

Crude Prices Higher on Macroeconomic Optimism

Oil OPEC US Federal Reserve United States Vortexa Russia

April WTI crude oil (CLJ24) today is up +0.32 (+0.41%), and Apr RBOB gasoline (RBJ24) is up +0.0075 (+0.29%).

Crude oil prices today are seeing support from strength in U.S. stocks and expectations that the Fed is on track for a June rate cut, which is positive for the economic outlook and energy demand.  Crude oil prices are shaking off the bearish effects from today's mild +0.2% gain in the dollar index and +5 bp rise in the 10-year T-note yield.

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