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Barchart
Rich Asplund

Crude Prices Fall on Chinese Energy Demand Concerns

Oil Nymex United States China Natural Gas

July WTI crude oil (CLN23) on Tuesday closed down -0.79 (-1.14%), and July RBOB gasoline (RBN23) is down -2.14 (-0.86%).   July Nymex natural gas (NGN23) is down -0.015 (-0.64%).

Crude oil and gasoline prices this morning extended Tuesday's losses, with crude posting a 3-1/2 week low and gasoline dropping to a 2-week low.  A rally in the dollar index today to a 2-1/2 month high is bearish for energy prices.  Also, concern about China's energy demand is weighing on crude prices after weak Chinese manufacturing and service sector reports.

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