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Barchart
Rich Asplund

Crude Prices Strengthen on Dollar Weakness and Tight Global Supplies

Oil United States Nymex China Natural Gas

May WTI crude oil (CLK23) this morning is up +1.39 (+1.74%), and May RBOB gasoline (RBJ23) is up +4.90 (+1.75%).  May Nymex natural gas (NGK23) is up +0.015 (+0.69%).

Crude oil and gasoline prices this morning are moderately higher, with gasoline climbing to a 5-1/2 month nearest-futures high.  A weaker dollar today is bullish for energy prices.  Also, tightness in global oil supplies is supporting crude prices with the continued halt of 400,000 bpd of Iraqi crude oil exports.

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