October WTI crude oil (CLV25) on Monday closed down -0.04 (-0.06%), and October RBOB gasoline (RBV25) closed up +0.0075 (+0.38%).
Crude oil and gasoline prices settled mixed on Monday, with crude falling to a 1-week low. Crude prices were under pressure Monday on the outlook for additional global oil supplies after Iraq said it agreed to terms with the regional government of Kurdistan to resume oil exports via a pipeline to Turkey that had been halted over the past two years. Losses in crude were limited, and gasoline prices rose due to dollar weakness and Monday's rally in the S&P 500 to a new record high, which shows confidence in the economic outlook that is bullish for energy demand.
