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Barchart
Barchart
Rich Asplund

Crude Prices Fall on a Stronger Dollar and Slump in U.S. Consumer Sentiment

Oil United States Nymex Natural Gas

June WTI crude oil (CLM23) this morning is down -0.58 (-0.82%), and June RBOB gasoline (RBM23) is down -1.22 (-0.50%).   June Nymex natural gas (NGM23) is up +0.033 (+1.51%).

Crude oil and gasoline prices this morning gave up an early advance and are moderately lower on today's rally in the dollar index to a 1-month high and a decline in U.S. consumer sentiment to a 6-month low.  Crude prices today initially moved higher on concerns about tight global supplies as Iraqi crude exports of around 500,000 bpd remain halted from the Turkish port of Ceyhan.  Also, the U.S. Energy Department said it will soon start buying oil to refill the Strategic Petroleum Reserve (SPR).  

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