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Barchart
Barchart
Rich Asplund

Crude Pressured by Dollar Strength and Energy Demand Concerns

Oil United States OPEC

August WTI crude oil (CLQ24) today is down -0.64 (-0.77%), and Aug RBOB gasoline (RBQ24) is down -1.85 (-0.74%).

Crude oil and gasoline prices today are moderately lower.  A stronger dollar today has undercut energy prices.  Weakness in stocks today also undercut confidence in the economic outlook, which is negative for energy demand.  Losses in crude oil are limited by global supply concerns as wildfires in Canada threaten its crude production.  

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