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Rich Asplund

Crude Prices Plunge on Energy Demand Concerns

Oil United States EIA

December WTI crude oil (CLZ23) this morning is down -3.32 (-4.33%), and Dec RBOB gasoline (RBZ23) is down -0.0807 (-3.67%).

Crude oil and gasoline prices this morning are sharply lower, with crude falling to a 4-month low and gasoline sinking to an 11-month low. Crude prices have a negative carryover from Wednesday, when the EIA reported that weekly crude inventories rose more than expected. Also, fund selling in crude emerged today as weaker-than-expected global economic news weighs on the energy demand outlook and crude prices.

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