Crude oil and gasoline prices today are climbing, with crude oil posting a 2-1/2 month high and gasoline posting a 6-week high. Signs of US economic strength support energy demand and crude prices after weekly jobless claims fell to an 8-month low, and the Dec S&P manufacturing PMI was revised higher. Also, strong US jet fuel demand is bullish for crude after US jet fuel demand in October rose to a 7-year monthly high. Crude prices fell back from their best levels after the dollar index (DXY00) rallied to a 2-year high, and weekly US EIA crude inventories fell less than expected.
