October WTI crude oil (CLV23) on Tuesday closed up +1.06 (+1.32%), and Oct RBOB gasoline (RBV23) closed down -1.04 (-0.41%).
Crude oil and gasoline prices on Tuesday settled mixed, with crude climbing to a 1-week high. A weaker dollar Tuesday was supportive of energy prices. Also, actions by China to restore confidence in its economy may boost growth and energy demand and are bullish for crude after its largest state-owned banks are preparing to cut interest rates on trillions of yuan of outstanding home mortgages for the first time since the global financial crisis. Gains in crude were limited after weaker-than-expected U.S. economic news on July JOLTS openings and August consumer confidence signaled economic weakness that is bearish for energy demand.
.png?w=600)
