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Barchart
Barchart
Rich Asplund

Dollar Strength and Smaller Global Supplies Lift Crude Oil Prices

Oil OPEC United States Iran EIA IEA

February WTI crude oil (CLG26) today is up +0.94 (+1.58%), and February RBOB gasoline (RBG26) is up +0.0354 (+1.98%).

Crude oil and gasoline prices recovered from early losses today and rallied sharply after the dollar index (DXY00) tumbled to a 2-week low.  Also, reduced global crude supplies are supporting oil prices after Kazakhstan's largest oil producer shut production after fires at the Tengiz and Korolev oil fields.

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