March WTI crude oil (CLH26) today is up +0.79 (+1.25%), and March RBOB gasoline (RBH26) is up +0.0291 (+1.51%).
Crude oil and gasoline prices recovered from early losses today and moved higher after the dollar weakened. Also, concerns that the US-Iranian talks in Oman will not lead to a breakthrough in a nuclear deal are underpinning oil prices, after the Wall Street Journal reported that Iran stands by its refusal to end uranium enrichment, a major sticking point for the US. Crude prices added to their gains today after the University of Michigan US Feb consumer sentiment index unexpectedly rose to a 6-month high, a positive factor for energy demand and crude prices.
