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Rich Asplund

Progress in Trade Talks Supports Energy Demand and Crude Prices

Oil OPEC United States Iraq Economic Growth

September WTI crude oil (CLU25) today is up +0.73 (+1.12%), and September RBOB gasoline (RBU25) is down -0.0145 (-0.69%).

Crude oil and gasoline prices today are mixed. Crude oil is finding support in signs of progress in trade talks, which could support economic growth and energy demand. Also, today's rally in the S&P 500 to a new record high shows confidence in the economic outlook that is bullish for energy demand and oil prices. Today's dollar strength and mixed US economic reports are limiting gains in crude prices.

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