Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Rich Asplund

Crude Rallies on Dollar Weakness and China's Interest Rate Cut

Oil China Nymex United States EIA Natural Gas

July WTI crude oil (CLN23) this morning is up +1.56 (+2.29%), and July RBOB gasoline (RBN23) is up +6.80 (+2.66%).  July Nymex natural gas (NGN23) is up +0.191 (+8.16%).

Crude oil and gasoline prices this morning are moderately higher.  A slump in the dollar index today to a 4-week low is bullish for energy prices.  Crude also found support on today's action by the PBOC to lower interest rates, which may revive economic growth and energy demand in China.  In addition, today's rally in the S&P 500 to a 13-3/4 month high shows confidence in the economic outlook that is supportive of energy demand.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Tyson review – deeply icky … and that’s before Trump shows up
This peculiar – some would say truly irresponsible – hagiography of boxing superstar Mike Tyson veers from psychedelics and sobbing to the inadvisable face tattoo via a cameo from the US president
The Guardian - UK
The Guardian - UK
William Shatner 'auctioned off kidney stone' for affordable housing charity
William Shatner has recalled a time he sold his kidney stone to a gambling company to help raise money for charity.
BANG Premier
BANG Premier
Oregon woman claims Acme is tinting salmon packaging to trick customers. She peels the plastic off the fish and shows exactly what is underneath
What you see isn't what you get.
We Got This Covered
We Got This Covered
Hayley Williams Urges Fans to Vote in November After Calling MAGA Supporters 'Pieces of Sh*t' on Stage
Hayley Williams urged fans to vote in November during a New Orleans concert before directing profane criticism at MAGA and referencing the Ku Klux Klan.
International Business Times UK
International Business Times UK
Reading alone, together is all the rage at book doofs and reading parties. What makes it social?
It’s called a doof, but it’s actually all about quiet reading. There are beanbags, some chairs and a few shared tables, where readers sit (or lie) down and read their separate books. Maybe some music playing in the background. Book Doof’s founder calls it a social experience. But can people…
The Conversation
The Conversation
‘This is not my camera’: Woman trusts camera repair shop in LA with family heirloom but the camera they return sets alarm bells ringing
She just wants her grandmother's camera back.
We Got This Covered
We Got This Covered
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play