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Barchart
Barchart
Rich Asplund

Crude Edges Lower on Dollar Strength and Energy Demand Concerns

Oil crude oil United States Russia EIA Iran Vortexa

October WTI crude oil (CLV23) this morning is down -0.23 (-0.29%), and Oct RBOB gasoline (RBV23) is up +0.64 (+0.25%).

Crude oil and gasoline prices this morning are mixed, with crude falling to a 1-month low.  A stronger dollar today is weighing on energy prices.   Also, weakness in stocks today has undercut confidence in the economic outlook and is negative for energy demand.  Losses in crude are limited on tight supplies after Wednesday's weekly EIA crude inventories fell more than expected to a 7-1/2 month low.

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