October WTI crude oil (CLV25) today is up +0.98 (+1.54%), and October RBOB gasoline (RBV25) is up +0.0083 (+0.42%).
Crude oil and gasoline prices are moving higher today, with crude posting a 2.5-week high and gasoline posting a 3-week high. Crude oil prices have support from doubts about negotiations for an end to the Russian-Ukrainian war. Crude is also climbing on expectations for the Fed to cut interest rates at next month's FOMC meeting, which could boost economic growth and energy demand. Gains in crude accelerated today after prices rose above the 100-day moving average, triggering some buying from algorithmic-based traders. Today's stronger dollar is limiting gains in crude.
