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Barchart
Barchart
Rich Asplund

Crude Prices Supported by U.S. Economic Strength

Oil EIA United States Israel Drone Economy Hezbollah OPEC Russia Vortexa

April WTI crude oil (CLJ24) this morning is up +0.45 (+0.58%), and Apr RBOB gasoline (RBJ24) is down -0.32 (-0.13%).

Crude oil and gasoline prices this morning are mixed.  Signs of strength in the U.S. economy are supporting energy demand and crude prices after weekly jobless claims fell to a 5-week low and the Feb S&P manufacturing PMI rose to a 17-month high.  Also, today's rally in the S&P 500 to a new record high shows confidence in the economic outlook that is supportive of energy demand and crude prices.

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