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Barchart
Rich Asplund

Crude Prices Extend Slide on Oversupply and Energy Demand Concerns

Oil OPEC United States

November WTI crude oil (CLX25) today is down -0.70 (-1.13%), and November RBOB gasoline (RBX25) is down -0.0263 (-1.39%).

Crude oil and gasoline prices are sliding today, with crude falling to a 4-month nearest-futures low and gasoline dropping to a 1-year low.   Crude prices are retreating as OPEC+ is set to increase its crude production levels, which will boost global supplies and potentially lead to a worldwide oil supply glut.   Today's dollar strength is also bearish for crude prices.  Additionally, concerns that energy demand will suffer the longer the US government shutdown continues are undercutting crude prices.  

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