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Barchart
Barchart
Rich Asplund

Crude Pushes Higher on Dollar Weakness and Energy Demand Optimism

United States Oil crude oil OPEC

June WTI crude oil (CLM24) this morning is up +0.87 (+1.06%), and May RBOB gasoline (RBK24) is up +2.18 (+0.82%).

Crude and gasoline prices this morning are moderately higher.  A weaker dollar today is bullish for energy prices.  Also, today's strength in stocks bolsters optimism in the economic outlook that supports energy demand and crude prices.  Gains in crude are limited after Israel-Iran tensions eased as it appears Iran will not respond following Israel’s retaliatory strike last Friday.

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