
May WTI crude oil (CLK25) Wednesday closed up +0.51 (+0.72%), and May RBOB gasoline (RBK25) closed up +0.0285 (+1.24%).
Crude oil and gasoline prices posted moderate gains Wednesday, with gasoline climbing to a 7-month nearest-futures high. Wednesday's fall in the dollar index (DXY00) to a 1-1/2 week low was bullish for crude prices. Also, Wednesday's stronger-than-expected US economic news on Mar ADP employment and Feb factory orders is positive for energy demand and crude prices. However, crude prices fell back from their best levels after weekly EIA crude inventories unexpectedly rose to an 8-month high.