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Barchart
Barchart
Rich Asplund

Crude Prices Drop after EIA Crude Inventories Jump to a 10-Month High

EIA Oil Israel OPEC United States

May WTI crude oil (CLK24) this morning is down -0.88 (-1.03%), and May RBOB gasoline (RBK24) is down -4.99 (-1.77%).

Crude and gasoline prices this morning are moderately lower, with crude falling to a 2-week low.  Crude prices moved lower after weekly EIA crude inventories rose more than expected to a 10-month high.  However, losses in crude were limited by a weaker dollar and Middle Eastern geopolitical risks as the markets await any response from Israel to Iran's weekend drone and missile attack against Israel.  

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