Crude Rallies on Stronger Energy Demand and Index Buying of Crude Futures
Yahoo Finance·2026-01-08 16:41
February WTI crude oil (CLG26) today is up +0.99 (+1.77%), and February RBOB gasoline (RBG26) is up +0.0435 (+2.57%). Crude oil and gasoline prices are sharply higher after today's better-than-expected US economic news shows strength in energy demand. Also, the upcoming annual rebalancing of commodity indexes will see buying of oil contracts, a bullish factor for crude. On the negative side is today's rally in the dollar index to a 4-week high and the negative carryover from Wednesday, after the US lift ...