October WTI crude oil (CLV25) today is up +0.53 (+0.85%), and October RBOB gasoline (RBV25) is up +0.0239 (+1.20%).
Crude oil and gasoline prices are moving higher today, with gasoline posting a 1-week high. Today's weaker dollar is supportive for energy prices. Also, concerns over a decline in Russian oil exports are boosting prices after Ukraine stepped up its drone attacks on Russian refineries. In addition, today's rally in the S&P 500 to a new record high shows confidence in the economic outlook and is supportive of energy demand and crude prices. Gains in crude are limited after today's weaker than expected US and Chinese economic news signal weakness in energy demand.
