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Barchart
Rich Asplund

Crude Settles Higher as Saudi Arabia Warns OPEC+ Production Increases Can Be Reversed

OPEC Oil crude oil Saudi Arabia Abdulaziz bin Salman United States

July WTI crude oil (CLN24) Thursday closed up +1.48 (+2.00%), and July RBOB gasoline (RBN24) closed up +4.39 (+1.87%).

Crude oil and gasoline prices posted moderate gains on Thursday.  Crude rose Thursday based on comments from Saudi Arabia Energy Minister Prince Abdulaziz bin Salman, who said OPEC+ could pause or reverse its decision on Sunday to boost crude production if prices falter.  A weaker dollar Thursday was also supportive of energy prices.  

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