September WTI crude oil (CLU26) is up +1.42 (+1.67%) on Tuesday, and September RBOB gasoline (RBU26) is down -0.0122 (-0.37%).
Crude oil and gasoline prices are mixed today, with crude oil posting a 3-week high. Today’s sharp decline in the dollar index ($DXY) to a 2.5-month low is bullish for energy prices. Also, the lack of a clear path to a resolution in the Middle East is keeping the Strait of Hormuz closed and limiting crude supplies from the Middle East, keeping upward pressure on oil prices. Today’s weekly EIA inventory report was mixed for crude and gasoline prices.
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