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Barchart
Barchart
Rich Asplund

Crude Supported by China Stimulus Optimism

Oil China United States Vladimir Putin OPEC Russia

January WTI crude oil (CLF25) today is up +0.62 (+0.91%), and January RBOB gasoline (RBF25) is up +0.0190 (+0.97%).

Crude oil and gasoline prices today are moderately higher.  Crude is climbing today on carryover support from Monday when the Chinese government pledged to revive the economy, which will be positive for energy consumption.  Oil prices are also seeing support from turmoil in the Middle East after rebels toppled the government of Bashar al-Assad in Syria.  Today's stronger dollar is limiting the upside in crude prices.  

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