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Barchart
Rich Asplund

Crude Prices Under Pressure From a Stronger Dollar

Oil OPEC United States Vortexa IEA Red Sea Russia

May WTI crude oil (CLK24) today is down -0.57 (-0.70%), and May RBOB gasoline (RBK24) closed down -1.70 (-0.63%).

Crude oil and gasoline prices are moderately lower as a stronger dollar weighs on energy prices.  Also, technical selling is weighing on crude as prices neared overbought levels after climbing to a 4-1/2 month high on Tuesday.  Losses in crude are limited as today's rally in the S&P 500 to a new record high shows optimism in the economic outlook that is bullish for energy demand.

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