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Barchart
Rich Asplund

Crude Oil Prices Retreat on Dollar Strength and Economic Concerns

Oil United States Nymex Natural Gas

June WTI crude oil (CLM23) this morning is down -1.73 (-2.20%), and June RBOB gasoline (RBM23) is down -5.97 (-2.29%).  May Nymex natural gas (NGK23) is down -0.043 (-1.89%).

Crude oil and gasoline prices this morning are sharply lower, with crude falling to a 3-week low.  Dollar strength today is pressuring energy prices.  Also, concerns that a slowdown in the global economy will curb energy demand are weighing on crude prices.  Crude prices extended their losses after U.S. Apr consumer confidence fell more than expected to a 9-month low.

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