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RBOB Gasoline May 21 (RB=F)
- Oilprice.com
Two Reasons Why Gasoline Prices Are Soaring
Gasoline prices are set to reach their highest level since 2018 as demand starts to pick up nationwide, but this is not the only reason that prices at the pump are soaring
- Reuters
Oil flat as weaker dollar offsets surge in U.S. gasoline stocks
NEW YORK (Reuters) -Oil prices were little changed on Thursday as a falling dollar and rising stock markets offset earlier declines caused by a big increase in U.S. gasoline stockpiles and subdued demand compared with pre-pandemic levels. "Crude prices are struggling for direction as short-term COVID pressures are countered by a much weaker U.S. dollar," said Edward Moya, senior market analyst at OANDA in New York. The U.S. dollar fell to a two-week low against a basket of currencies, tracking Treasury yields lower, after data showed a surprise rise in U.S. weekly jobless claims.
