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Barchart
Barchart
Rich Asplund

Crude Prices Modestly Lower on Dollar Strength and Economic Concerns

May WTI crude oil (CLK23) this morning is down -0.14 (-0.17%), and May RBOB gasoline (RBJ23) is down -0.17 (-0.06%).  May Nymex natural gas (NGK23) is down -0.065 (-3.02%).

Crude oil and gasoline prices this morning are slightly lower.  A stronger dollar today is undercutting energy prices.  Also, signs of softness in the U.S. labor market point to a bearish economic slowdown for energy demand and crude prices after weekly jobless claims rose more than expected.  Limiting losses is a positive carryover from Wednesday, when the weekly EIA inventory report showed crude oil inventories fell more than expected.  

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