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Barchart
Barchart
Rich Asplund

Crude Recovers Early Losses on Dollar Weakness and a Fall in EIA Inventories

Oil EIA IEA OPEC United States

June WTI crude oil (CLM24) today is up +0.11 (+0.14%), and June RBOB gasoline (RBM24) is up +2.53 (+1.03%).

Crude oil and gasoline prices rebounded from 2-1/2 month lows and are slightly higher.  Crude today initially moved lower after the IEA cut its 2024 global crude demand forecast.  However, prices pushed into positive territory after the dollar index fell to a 5-week low and weekly EIA crude inventories fell more than expected.

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