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Barchart
Barchart
Rich Asplund

Crude Prices Underpinned on Rising Geopolitical Risks in the Middle East

May WTI crude oil (CLK24) on Friday closed up +0.64 (+0.75%), and May RBOB gasoline (RBK24) closed up +2.88 (+1.04%).

Crude and gasoline prices Friday posted moderate gains, with crude climbing to a 5-1/2 month high and gasoline climbing to a 7-1/2 month high.  Crude prices moved higher Friday on concern that an escalation of conflict in the Middle East could disrupt global crude supplies.  Crude prices fell back from their best levels Friday after the dollar index (DXY00) rallied to a 5-1/4 month high.

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