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Barchart

Rich Asplund

Crude Recovers Early Losses on Speculation Trump's Policies Will Boost Energy Demand

Donald Trump Oil EIA United States Iran OPEC

December WTI crude oil (CLZ24) today is up +0.18 (+0.25%), and December RBOB gasoline (RBZ24) is up +0.0004 (+0.02%).

Crude oil and gasoline prices today recovered from early losses and are slightly higher. Short covering emerged in crude today to push prices higher after the S&P 500 soared to a record high on speculation President-elect Trump's policies will boost economic growth and energy demand. Crude prices today initially fell after the dollar surged to a 4-month high. Also, today's weekly EIA report was negative for crude after crude and gasoline inventories unexpectedly rose.

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