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Rich Asplund

Crude Closes Lower On China Energy Demand Woes

Oil China United States Economic Growth Iran OPEC

December WTI crude oil (CLZ24) Friday closed down -1.98 (-2.74%), and December RBOB gasoline (RBZ24) closed down -0.0411 (-2.00%).

Crude oil and gasoline prices Friday were under pressure after Chinese stimulus measures were seen as underwhelming, which may keep Chinese economic growth and energy demand subdued. Also, Friday's dollar strength weighed on energy prices. In addition, crude oil prices are being undercut by speculation that President-elect Trump's policies will increase US crude production and that new tariffs may slow China's economy.

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