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Rich Asplund

Crude Closes Slightly Lower on Chinese Energy Demand Concerns

Oil United States EIA

June WTI crude oil (CLM23) on Tuesday closed down -0.25 (-0.35%), and June RBOB gasoline (RBM23) closed up +0.71 (+0.29%).

Crude oil and gasoline prices Tuesday settled mixed. A stronger dollar Tuesday weighed on crude prices. Also, weaker-than-expected Chinese economic news Tuesday suggested the Chinese economic recovery is wavering, a bearish factor for crude demand and prices. Better-than-expected U.S. economic reports limited losses in crude and boosted gasoline prices.

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