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Barchart
Rich Asplund

Crude Prices Close Lower on Energy Demand Concerns

Oil crude oil United States EIA Russia Iran Vortexa

October WTI crude oil (CLV23) on Wednesday closed down -0.75 (-0.94%), and Oct RBOB gasoline (RBV23) closed down -1.30 (-0.51%).

Crude oil and gasoline prices Wednesday retreated, with crude falling to a 4-week low and gasoline dropping to a 3-week low.  Weaker-than-expected economic news Wednesday from the U.S. and Europe signals economic weakness that is bearish for energy demand and crude prices.   Crude recovered from its worst levels after weekly EIA crude inventories fell more than expected to a 7-1/2 month low.

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