
August WTI crude oil (CLQ23) this morning is up +0.44 (+0.58%), and Aug RBOB gasoline (RBQ23) is up +0.11 (+0.04%).
Crude oil and gasoline prices this morning are moderately higher, with crude posting a 2-1/2 month nearest-futures high and gasoline posting a 3-week high. The selloff in the dollar index (DXY00) today to a 14-1/2 month low is bullish for energy prices. Also, an improvement in Chinese crude demand is supportive of prices. Gains in crude were limited on global growth concerns after China's Jun exports fell by the most in over three years.