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Barchart

Rich Asplund

Crude Prices Supported by Tighter Supplies and Strength in Global Manufacturing

Oil OPEC United States EIA

October WTI crude oil (CLV25) today is up +0.34 (+0.54%), and October RBOB gasoline (RBV25) is up +0.0224 (+1.14%).

Crude oil and gasoline prices today are climbing, with crude posting a 1.5-week high and gasoline posting a 2.5-week high. Crude and gasoline have carryover support from Wednesday, when weekly EIA crude and gasoline inventories fell more than expected. Also, strength in global manufacturing activity is supportive for energy demand and crude prices. Gains in crude are limited after the dollar index (DXY00) rose to a 1-week high.

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