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Barchart
Barchart
Rich Asplund

Dollar Weakness and Stock Gains Lift Crude Prices

Oil OPEC Donald Trump United States China Iran Hamas Vortexa

June WTI crude oil (CLM25) Thursday closed up +0.52 (+0.84%), and June RBOB gasoline (RBM25) closed up +0.0220 (+1.06%).

Crude oil and gasoline prices on Thursday posted moderate gains.  Thursday's weaker dollar supported energy prices.  Also, Thursday's stock strength shows confidence in the economic outlook supporting energy demand.   Gains in crude were limited on concern the China-US trade war will drag on and undercut economic growth and energy demand after Treasury Secretary Bessent said President Trump hasn't offered to take down US tariffs on China on a unilateral basis.

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