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Rich Asplund

Crude Prices Retreat on Energy Demand Concerns

Oil OPEC United States

September WTI crude oil (CLU25) today is down -0.93 (-1.40%), and September RBOB gasoline (RBU25) is down -0.0088 (-0.42%).

Crude oil and gasoline prices are under pressure today, with crude falling to a 1-week low.  Concerns about weakening energy demand are weighing on crude prices after the US Jul ISM services index unexpectedly declined.   Crude prices also have a negative carryover from Sunday when OPEC+ raised its crude production levels, stoking fears of a global supply glut.

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