July WTI crude oil (CLN24) on Tuesday closed up +1.24 (+1.54%), and July RBOB gasoline (RBN24) closed up +3.63 (+1.48%).
Crude oil and gasoline prices Tuesday finished moderately higher, with crude posting a 7-week high and gasoline posting a 3-week high. A weaker dollar Tuesday was supportive of energy prices. Crude also has support on expectations that global oil supplies will remain tight in the medium term after Saudi Arabia said last week that it could reverse OPEC+ production changes to support crude prices and after Russia vowed to cut back its crude production.
