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Barchart

Rich Asplund

Crude Price Slip on a Mixed Weekly EIA Report

Oil EIA OPEC United States Iraq

September WTI crude oil (CLU25) today is down -0.33 (-0.51%), and September RBOB gasoline (RBU25) is up +0.0112 (+0.54%).

Crude oil and gasoline prices today are mixed. Dollar strength today is undercutting energy prices. Also, today's weekly EIA report showing a build in crude supplies at Cushing, the delivery point for WTI futures, for a third consecutive week, is undercutting oil prices. Losses in crude are contained, and gasoline prices rose after weekly EIA crude inventories and gasoline supplies fell more than expected. Additionally, the action by the US and Japan to agree on a trade agreement eases trade concerns and supports energy demand.

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