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Barchart
Barchart
Rich Asplund

Crude Pushes Higher on Dollar Weakness and Chinese Energy Demand Optimism

Oil United States OPEC

June WTI crude oil (CLM24) this morning is up +0.55 (+0.70%), and June RBOB gasoline (RBM24) is up +1.50 (+0.60%).

Crude oil and gasoline prices today are moderately higher.  A weaker dollar today is supportive of energy prices.  Crude also climbed after the Chinese government started selling 1 trillion yuan ($138 billion) of special bonds to fund infrastructure spending, which should aid Chinese economic growth and support energy consumption.

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