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Barchart
Barchart
Rich Asplund

Crude Rallies on Dollar Weakness and Strong Economic Data

Oil EIA United States Nymex OPEC Natural Gas

July WTI crude oil (CLN23) this morning is up +2.59 (+3.80%), and July RBOB gasoline (RBN23) is up +2.85 (+1.17%).   July Nymex natural gas (NGN23) is down -0.104 (-4.59%).

Crude oil and gasoline prices this morning are sharply higher on strong economic data and a decline in the dollar index to a 1-week low.  Also, the House passage of the debt ceiling deal sparked a rally in stocks and other risk assets such as crude.  Crude prices shrugged off an unexpected increase in weekly EIA crude inventories.  

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