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Barchart
Barchart
Rich Asplund

Crude Prices Slip as the Dollar Strengthens

Oil OPEC United States

July WTI crude oil (CLN24) Friday closed down -0.02 (-0.03%), and July RBOB gasoline (RBN24) closed down -1.49 (-0.62%).

Crude oil and gasoline prices posted modest losses on Friday.  Friday's rally in the dollar index (DXY00) to a 1-week high undercut energy prices.  Losses in crude were limited on Friday's stronger-than-expected US May payroll report, which is positive for economic growth and energy demand.  Crude prices also have carryover support from Thursday when Saudi Arabia Energy Minister Prince Abdulaziz bin Salman said OPEC+ could pause or reverse its decision to boost crude production if prices falter.  

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