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Barchart
Barchart
Rich Asplund

Crude Rises on the Outlook for Tighter Global Oil Supplies

Oil United States OPEC

August WTI crude oil (CLQ23) this morning is up +2.01 (+2.88%), and Aug RBOB gasoline (RBQ23) is up +6.34 (+2.57%).

Crude oil and gasoline prices this morning are sharply higher, with crude posting a 1-1/2 week high.  The outlook for tighter global crude supplies is pushing prices higher after  Saudi Arabia and Russia announced Monday that they would cut their crude production.  

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