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Barchart
Barchart
Rich Asplund

Crude Prices Drop on Dollar Strength and Energy-Demand Concerns

Oil United States Nymex EIA China Natural Gas

June WTI crude oil (CLM23) this morning is down -0.76 (-1.05%), and June RBOB gasoline (RBM23) is down -2.94 (-1.18%).   June Nymex natural gas (NGM23) is up +0.058 (+2.65%).

Crude oil and gasoline prices this morning are moderately lower.  A rally in today's dollar index to a 1-week high is undercutting energy prices.  Also, demand concerns are weighing on crude prices as today's weaker-than-expected economic news from China and the U.S., the world's two biggest crude consumers, sparked fears about a slowdown in the global economy that is bearish for energy demand.

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