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 Tighter US Oil Supplies

August WTI crude oil (CLQ24) on Wednesday closed up +2.09 (+2.59%), and Aug RBOB gasoline (RBQ24) closed up +2.38 (+0.96%).

Crude oil and gasoline prices Wednesday settled moderately higher.  Wednesday's slump in the dollar index (DXY00) to a 3-3/4 month low is bullish for energy prices.  Gains in crude accelerated Wednesday after weekly EIA crude inventories fell more than expected to a 5-month low.  However, demand concerns limited gasoline gains after weekly EIA gasoline stockpiles unexpectedly increased.  

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
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.