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Barchart
Barchart
Rich Asplund

Crude Prices Supported by Dollar Weakness and Geopolitical Risks

April WTI crude oil (CLJ24) this morning is up +0.42 (+0.55%), and Apr RBOB gasoline (RBJ24) is up +1.60 (+0.64%).

Crude oil and gasoline prices this morning are slightly higher.  Dollar weakness today is supportive of energy prices.  Also, geopolitical risks continue to underpin crude prices with the possible escalation of the Israel-Hamas war to Lebanon and attacks on commercial ships in the Red Sea by Yemen's Houthi rebels.  Weakness in stocks today undercuts confidence in the economic outlook and is limiting the upside in crude prices.  

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