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Rich Asplund

Crude Oil Erases Early Gains on Signs of a Slowing U.S. Economy

Oil EIA Economy United States Nymex China Natural Gas

May WTI crude oil (CLK23) this morning is down -0.11 (-0.15%), and May RBOB gasoline (RBJ23) is down -4.034 (-1.50%). April Nymex natural gas (NGJ23) is down -0.020 (-0.99%).

Crude oil and gasoline prices this morning fell back from 2-week highs and turned lower on concerns of a slowing economy. Weekly EIA distillate stockpiles unexpectedly declined, which signaled lackluster diesel demand and weakness in trucking and manufacturing demand, signs of a slowing economy. A stronger dollar today is also weighing on energy prices. Crude prices today initially rose to a 2-week high after weekly EIA crude inventories unexpectedly declined.

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International Business Times UK

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One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

4,000 Brigham and Women's Nurses Postpone Wednesday Strike to Vote on Hospital's Best and Final Contract Offer

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