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Barchart

Rich Asplund

Crude Prices Underpinned by Tight Global Supplies

Oil United States Aramco OPEC Russia Vortexa

November WTI crude oil (CLX23) this morning is up +0.81 (+0.90%), and Nov RBOB gasoline (RBX23) is down -1.29 (-0.50%).

Nov WTI crude oil and gasoline prices this morning are mixed. A rally in the dollar index today to a 6-1/2 month high is bearish for energy prices. However, crude is climbing on expectations that global oil supplies will remain tight. Crude also has carryover support from Thursday when Russia banned gasoline and diesel exports, further tightening global fuel supplies.

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