Crude Oil

Dec crude oil this morning is up +$1.03 a barrel (+1.87%) and Dec gasoline is +0.0176 (+1.03%). Thursday's closes: Dec WTI crude -0.19 (-0.34%), Dec gasoline -0.0251 (-1.44%). Dec crude oil and gasoline on Thursday closed lower with Dec gasoline at a 2-week low. Crude oil prices were undercut by a stronger dollar and the decline in the crack spread to a 3-week low, which reduces the incentive for refineries to purchase crude to refine into gasoline. Crude oil prices were supported by U.A.E. Minister of Energy Suhail Al Mazrouei's comment that his country favors extending OPEC and non-OPEC crude productions cuts beyond March to help rebalance the global oil market.