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Barchart
Rich Asplund

Crude Prices Fall on Global Energy Demand Concerns

Oil crude oil EIA United States Russia Iran Vortexa

October WTI crude oil (CLV23) this morning is down -0.55 (-0.69%), and Oct RBOB gasoline (RBV23) is down -2.56 (-1.00%).

Crude oil and gasoline prices this morning are moderately lower, with crude falling to a 4-week low and gasoline dropping to a 3-week low.  Weaker-than-expected economic news today from the U.S. and Europe signals economic weakness that is bearish for energy demand and crude prices.   Crude recovered from its worst levels after weekly EIA crude inventories fell more than expected to a 7-1/2 month low.

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