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Barchart
Barchart
Rich Asplund

Crude Closes Moderately Lower on Economic Concerns

Oil United States China Economy IEA OPEC Recession

May WTI crude oil (CLK23) on Friday closed down -0.70 (-1.00%), and May RBOB gasoline (RBJ23) closed down -1.23 (-0.48%).  

Crude oil and gasoline prices Friday closed moderately lower due to ongoing concerns that the banking turmoil could push the global economy into a recession, undercutting energy demand.  Also, strength in the dollar Friday weighed on energy prices.

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