October WTI crude oil (CLV23) this morning is up +0.25 (+0.31%), and Oct RBOB gasoline (RBV23) is up +2.65 (+1.04%).
Crude oil and gasoline prices this morning are moderately higher, with crude climbing to a 2-week high. A slump in the dollar index (DXY00) today to a 2-week low is bullish for energy prices. Crude jumped to its high after weekly EIA crude inventories fell more than expected to an 8-month low. Gains in crude are limited after weaker-than-expected U.S. economic news today raised concerns that the U.S. economy was slowing, a bearish factor for energy demand.
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