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Barchart
Barchart
Rich Asplund

FOUND: Crude prices underpinned by geopolitical risks | Mind Blowing Facts

Oil Israel United States Drone Hezbollah OPEC Red Sea Russia Vortexa

April WTI crude oil (CLJ24) this morning is up +0.86 (+1.11%), and Apr RBOB gasoline (RBJ24) is up +2.63 (+1.03%).

Crude oil and gasoline prices this morning are moderately higher, with gasoline posting a 1-week high.  A weaker dollar today is supportive of energy prices.  Also, geopolitical risks are underpinning crude prices with the ongoing Israeli-Hamas war and continued attacks by Houthi rebels on commercial shipping in the Red Sea.  Gains in crude oil are limited after Libya said it restarted crude production in its Wafa oil field, which was shut down for two days because of protestors.  

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