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Barchart
Barchart
Rich Asplund

Crude Little Changed as Focus Remains on OPEC and Red Sea Attacks

Oil OPEC United States EIA Angola AAA Red Sea

February WTI crude oil (CLG24) is down -0.08 (-0.1%), and Feb RBOB gasoline (RBG24) is down -0.0080 (-0.37%).

Crude oil and gasoline prices today are seeing continued downward pressure from Wednesday's bearish EIA report and Thursday's news that Angola dropped out of the OPEC cartel.  Crude oil is seeing underlying support from today's mild decline in the dollar index and this week's news that oil shippers are avoiding the Red Sea due to attacks on shipping in the region.  Today's U.S. economic reports were mixed for the energy markets.

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