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Barchart
Barchart
Rich Asplund

REVEALED: Crude prices soar on dollar weakness and economic optimism - The Real Truth

Oil OPEC Pedro United States AAA Angola

January WTI crude oil (CLF24) this morning is up +2.80 (+4.03%), and Jan RBOB gasoline (RBF24) is up +8.53 (+4.21%).

Crude oil and gasoline prices this morning are sharply higher and posted 1-week highs.  Today's slump in the dollar index to a 4-month low is bullish for energy prices.  Also, a perceived pivot in Fed policy to cutting interest rates has sparked demand for risk assets, including crude oil.  In addition, today's rally in stocks shows confidence in the economic outlook that supports energy demand and crude prices.

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