February WTI crude oil (CLG24) on Thursday closed down -0.33 (-0.44%), and Feb RBOB gasoline (RBG24) closed down -4.05 (-1.83%).
Crude oil and gasoline prices on Thursday closed moderately lower. Crude prices were weighed down by negative carryover from Wednesday when the EIA reported an unexpected increase in weekly U.S. oil supplies and record U.S. crude production. Crude oil prices also fell on concerns about a rift among OPEC members after Angola announced its exit from the group. In addition, Thursday's weak U.S. economic reports signalled reduced energy demand and were bearish for oil prices. Losses in crude were contained by a weaker dollar.
