
Nov WTI crude oil (CLX24) Wednesday closed up +0.27 (+0.39%), and Nov RBOB gasoline (RBX24) closed up +1.93 (+0.98%).
Crude oil and gasoline prices rose to 1-week highs on Wednesday and closed higher. Heightened Middle East tensions are supporting crude prices after Israel vowed to retaliate against Iran for its missile assault on Israel Tuesday, which could lead to a wider conflict that disrupts crude supplies from the Middle East. Crude prices fell back from their best levels after the dollar rose to a 2-1/2 week high and weekly EIA crude inventories unexpectedly increased.