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Rich Asplund

Crude Prices Slightly Higher on Dollar Weakness and a Decline in API Stockpiles

Oil API Donald Trump OPEC Vladimir Putin United States EIA Russia

February WTI crude oil (CLG25) today is up +0.05 (+0.07%), and February RBOB gasoline (RBG25) is down -0.0068 (-0.35%).

Crude oil and gasoline prices today are mixed. A weaker dollar today is supportive of energy prices. Crude also garnered some support today after the API reported late Tuesday that weekly US crude stockpiles fell -3.2 million bbl last week. Due to this week's Christmas holiday, the weekly EIA crude inventory report will be released on Friday. Crude also has carryover support from Tuesday on reports that China may sell a record 3 trillion yuan ($411 billion) of special Treasury bonds in 2025 to bolster economic stimulus for its economy.

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