November WTI crude oil (CLX25) on Tuesday closed up +0.04 (+0.06%), and November RBOB gasoline (RBX25) closed down -0.0077 (-0.40%).
Crude oil and gasoline prices on Tuesday settled mixed. Crude prices rose on carryover support from Sunday when OPEC+ agreed to a smaller-than-expected increase in its crude production levels. Gains in crude were limited on Tuesday due to a stronger dollar, as the dollar index (DXY00) rallied to a 1.5-week high. Additionally, Saudi Arabia's unexpected decision to maintain its crude prices steady, rather than raising them, signals weakness in energy demand —a bearish factor for oil prices.
