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Barchart
Barchart
Rich Asplund

Crude Rallies on Stronger-Than-Expected US Economic Reports

Oil United States OPEC Russia Vortexa Economy

May WTI crude oil (CLK24) on Thursday closed up +1.82 (+2.24%), and May RBOB gasoline (RBK24) closed up +4.87 (+1.82%).

Crude and gasoline prices Thursday settled moderately higher, with crude posting a 1-week high.  Thursday's stronger-than-expected US economic reports signaled strength in the economy that was bullish for energy demand and crude prices.  On the negative side for crude prices was Thursday's rally in the dollar index to a 6-week high.

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