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Market Impact: 0.22

Crude Oil Prices Erase Early Gains as the Dollar Strengthens

Energy Markets & PricesCommodity FuturesMarket Technicals & FlowsCurrency & FX

June WTI crude oil fell $1.16 (-1.14%) and June RBOB gasoline dropped $0.0790 (-2.14%) on Wednesday, with crude pulling back from a 1-week high. The move was pressured by a stronger dollar index, which climbed to a 1.5-week high, adding headwinds for dollar-denominated energy prices.

Analysis

June WTI crude oil fell $1.16 (-1.14%) and June RBOB gasoline dropped $0.0790 (-2.14%) on Wednesday, with crude pulling back from a 1-week high. The move was pressured by a stronger dollar index, which climbed to a 1.5-week high, adding headwinds for dollar-denominated energy prices.

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Market Sentiment

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mildly negative

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