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Rich Asplund

Crude Oil Prices Lower as Economic Concerns Dominate

Oil crude oil LAGARDE United States ECB Economic Growth

August WTI crude oil (CLQ23) today are down -0.78 (-1.12%), and Aug RBOB gasoline (RBQ23) are unchanged.

Crude oil are lower today as concern resurfaces about Chinese and global economic growth. ECB President Lagarde today reiterated hawkish comments. Also, there is no longer any concern about Russian oil output disruptions from the weekend insurrection after Wagner Group leader Prigozhin today arrived in Belarus for his exile.

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