May WTI crude oil (CLK25) Thursday closed up +0.27 (+0.39%), and May RBOB gasoline (RBK25) closed up +0.0151 (+0.67%).
Crude oil and gasoline prices settled moderately on Thursday, with gasoline posting a 3-week high. Thursday's weaker dollar is supportive of oil prices. Thursday's better-than-expected US economic reports signaled strength in the US economy that was positive for energy demand and crude prices. Crude also had carryover support from Wednesday when weekly EIA crude inventories unexpectedly declined -3.3 million bbl. Gains in crude were limited after the US imposed 25% tariffs on auto imports, which could derail economic growth and energy demand.
