Oct WTI crude oil (CLV24) today is up +1.54 (+2.11%), and Oct RBOB gasoline (RBV24) is up +3.28 (+1.57%). Crude oil and gasoline prices today are trading higher on a slump in the dollar index to a 7-1/2 month low. Crude oil prices also rallied on Fed Chair Powell’s comment that the time has come to cut interest rates, which sparked a risk-on mood in asset markets. In addition, today’s stock rally shows confidence in the economic outlook, a supportive factor for energy demand. Today’s US economic news was better than expected and supportive of crude after July new home sales rose +10.6% m/m to …