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Rich Asplund

Crude Prices Supported by Dollar Weakness and Tighter US Supplies

Oil United States EIA OPEC

September WTI crude oil (CLU25) today is up +0.59 (+0.95%), and September RBOB gasoline (RBU25) is up +0.0225 (+1.08%).

Crude oil and gasoline prices are moving higher today, with gasoline posting a 2-week high. Dollar weakness today is supportive for energy prices. Crude and gasoline also found support today after weekly EIA crude and gasoline inventories fell more than expected. Gains in crude are limited by signs of progress in Ukraine peace talks, which could pave the way for fewer restrictions on Russian crude exports.

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