October WTI crude oil (CLV23) on Monday closed up +0.27 (+0.34%), and Oct RBOB gasoline (RBV23) closed down -7.81 (-2.95%).
Crude oil and gasoline prices Monday settled mixed. The actions by China over the weekend to boost its markets sparked optimism that it could revive economic growth that is positive for energy demand and crude prices. Also, Monday's gains in U.S. equity markets boosted confidence in the economic outlook supporting energy demand. Gasoline prices were under pressure after Marathon Petroleum said it plans to return the Garyville refinery in Louisiana to normal operations. The Garyville refinery, the third largest U.S. refinery that can process 596,000 bpd of crude, was shut since last Friday because of a fire.
