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Barchart
Barchart
Rich Asplund

Crude Prices Fall on Energy Demand Concerns and Increased Russian Crude Exports

Oil United States Russia Goldman Sachs OPEC

Oct WTI crude oil (CLV24) today is down -1.28 (-1.65%), and Oct RBOB gasoline (RBV24) is down -3.63 (-1.70%).

Crude oil and gasoline prices today are moderately lower.  Crude prices came under pressure today after Goldman Sachs cut its 2025 Brent crude forecast to $77 a barrel from a prior estimate of $82 per barrel.  Today's slump in the crude crack spread to a 3-1/2 year low is another bearish factor for crude prices.  In addition, an increase in Russian crude exports is bearish for crude prices.

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