November WTI crude oil (CLX25) today is down -0.17 (-0.27%), and November RBOB gasoline (RBX25) is down -0.0034 (-0.18%).
Crude oil and gasoline prices are moving slightly lower due to today’s rally in the dollar index (DXY00) to a 1.75-month high. Also, cooling tensions in the Middle East reduces the chances of disruptions to the region’s crude supplies and is weighing on prices after Israel and Hamas agreed to a ceasefire. Losses in crude are limited on carryover support from Sunday when OPEC+ agreed to a smaller-than-expected increase in its crude production levels.
