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Barchart
Rich Asplund

Crude Closes Lower on Dollar Strength and Chinese Economic Woes

Oil crude oil United States China Russia IEA Iran Vortexa

September WTI crude oil (CLU23) on Monday closed down -0.74 (-0.89%), and Sep RBOB gasoline (RBU23) closed down -5.87 (-1.98%).

Crude oil and gasoline prices Monday settled moderately lower.  Monday's rally in the dollar index (DXY00) to a 5-week high pressured energy prices.  Also, concerns that a worsening of China's property debt crisis will weigh on its economy and energy demand undercut crude prices.

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