Sep WTI crude oil (CLU24) today is up +2.32 (+3.10%), and Sep RBOB gasoline (RBU24) is up +7.45 (+3.18%).
Crude oil prices today are sharply higher. Today's decline in the dollar index (DXY00) to a 1-1/2 week low is bullish for energy prices. Crude is also climbing on increased geopolitical tensions in the Middle East that could lead to a disruption of the region's crude supplies after Israel launched an airstrike in Iran that killed a Hamas leader. Crude price maintained their gains after weekly EIA crude inventories fell more than expected to a 5-3/4 month low.
