April WTI crude oil (CLJ24) this morning is up +0.78 (+1.02%), and Apr RBOB gasoline (RBJ24) is up +3.92 (+1.56%). In addition, a jump in the crude crack spread today to a 5-month high is positive for crude prices. Strength in the crude crack spread supports crude prices as the crack spread today rose to a 5-month high. A decline in Russian crude oil exports is supportive of crude oil prices. OPEC Jan crude production fell -1.59 million bpd to 26.570 million bpd, a 2-1/2 year low.

Source: Libya Today February 26, 2024 17:05 UTC