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Barchart
Barchart
Rich Asplund

Crude Rallies with Risk Assets on Signs of Progress in Debt Ceiling Negotiations

Oil United States Nymex Natural Gas

July WTI crude oil (CLN23) this morning is up +0.71 (+0.99%), and July RBOB gasoline (RBN23) is up +3.05 (+1.19%).   June Nymex natural gas (NGM23) is down -0.083 (-3.60%).

Crude oil and gasoline prices today are moderately higher.  Signs that U.S. lawmakers are close to a deal to raise the debt ceiling sparked a rally in stocks and risk assets today.   Also, stronger-than-expected U.S. economic news today showed strength in the economy that is supportive of energy demand and crude prices.  However, gains in crude were limited after the dollar index rose to a 2-1/4 month high.  

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