Crude Oil

Jun WTI crude oil prices this morning are up +3 cents (+0.04%) and Jun gasoline is +0.0109 (+0.49%). Thursday's closes: Jun crude +0.10 (+0.14%), Jun gasoline 0.0068 (-0.30%). Jun crude oil and gasoline on Thursday settled mixed with Jun crude at a 3-1/2 year high. Crude oil prices were supported by the anticipation of a drop in Iranian oil imports this year as renewed U.S. sanctions take effect. Crude oil prices were also boosted by the increase in the crack spread to an 8-1/4 month high, which provides incentive for refiners to boost their crude purchases to refine the crude into gasoline. Crude oil prices were undercut by a stronger dollar.