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Barchart

Rich Asplund

Crude Prices Decline on Dollar Strength and a Smaller Draw in Weekly EIA Inventories

EIA Oil United States OPEC

Oct WTI crude oil (CLV24) Wednesday closed down -1.01 (-1.34%), and Oct RBOB gasoline (RBV24) closed down -3.03 (-1.44%).

Crude oil and gasoline prices posted moderate losses on Wednesday. Dollar strength Wednesday undercut energy prices. Crude prices extended their losses after weekly EIA crude inventories fell less than expected. Losses in crude were limited by heightened Middle East tensions and the halt to Libya's crude exports that have taken more than 1 million bpd of crude off the global market.

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