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Rich Asplund

Crude Prices Recover from Thursday's Plunge

Oil OPEC United States Goldman Sachs

December WTI crude oil (CLZ23) this morning is up +2.19 (+3.00%), and Dec RBOB gasoline (RBZ23) is up +0.0592 (+2.82%).

Crude oil and gasoline prices this morning are moderately higher, recovering from Thursday's sharp sell-off. Today's decline in the dollar index (DXY00) to a 2-1/2 month low has sparked short covering in most commodities, including crude. Crude prices also rose after Goldman Sachs said they expect OPEC to act to support prices.

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