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Barchart
Rich Asplund

Crude Recovers Early Losses as Weekly EIA Inventories Decline

Oil EIA OPEC United States

June WTI crude oil (CLM24) this morning is up +0.45 (+0.57%), and June RBOB gasoline (RBM24) is down -2.33 (-0.92%).

Crude oil and gasoline prices this morning are mixed, with gasoline falling to a 2-month low.  A stronger dollar today is negative for energy prices.  Also, a rebound in Russian crude exports adds supplies to the global market and is bearish for prices.  Crude recovered its losses and moved higher after the bullish weekly EIA crude inventory report.

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