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Barchart
Rich Asplund

Crude Rallies on Global Energy Demand Optimism and Supply Disruptions in Libya

Oil Libya United States Economy OPEC

Oct WTI crude oil (CLV24) today is up +1.83 (+2.46%), and Oct RBOB gasoline (RBV24) is up +3.69 (+1.78%).

Crude oil and gasoline prices are sharply higher today on signs of strength in the US economy that supports energy demand.  Crude is also rallying as supply disruptions in Libya threaten to tighten global crude supplies.  In addition, today's rally in stocks shows confidence in the economic outlook that is bullish for crude demand.  A stronger dollar today is a negative factor for crude.

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