
December WTI crude oil (CLZ23) this morning is up +1.13 (+1.39%), and Dec RBOB gasoline (RBZ23) is up +1.86 (+0.84%).
Crude oil and gasoline prices this morning are moderately higher. Geopolitical risks are underpinning crude prices on concern an escalation of the Israeli-Hamas conflict could threaten crude supplies from the Middle East. Crude prices fell back from their best levels after the dollar index (DXY00) rallied to a 4-week high and on signs of weakness in manufacturing activity in China and the U.S. Today's weekly EIA report was mixed for crude prices.