January WTI crude oil (CLF26) today is up +0.68 (+1.16%), and January RBOB gasoline (RBF26) is up +0.00393 (+2.16%).
Crude oil and gasoline prices are moving higher today, with crude climbing to a 1-week high. Today's decline in the dollar index (DXY00) to a 2-week low is bullish for energy prices. Also, reduced Russian crude exports are boosting oil prices after Ukrainian drone and missile attacks forced a key Russian Black Sea oil terminal to close operations. In addition, heightened geopolitical risks in Venezuela are boosting crude prices after President Trump said airspace over Venezuela should be considered closed. Venezuela is the world's 12th-largest oil producer.
