November WTI crude oil (CLX23) this morning is down -3.88 (-4.35%), and Nov RBOB gasoline (RBX23) is down -12.93 (-5.48%).
Nov WTI crude oil and gasoline prices this morning are sharply lower, with crude falling to a 1-month low and gasoline tumbling to a 9-month low. Today's weaker-than-expected U.S. Sep ADP employment report signals a slowdown in the labor market that is bearish for energy demand and oil prices. Crude prices extended their losses despite an unexpected decline in EIA crude inventories after weakness in U.S. gasoline demand led to an unexpected surge in EIA gasoline supplies.
.png?w=600)
