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Barchart
Rich Asplund

Crude Prices Retreat on Lack of Iran Retaliation and Energy Demand Concerns

Oil Iran United States Israel OPEC

Sep WTI crude oil (CLU24) today is down -1.62 (-2.07%), and Sep RBOB gasoline (RBU24) is down -3.42 (-1.45%).

Crude oil and gasoline prices today fell to 1-week lows.  A lack of retaliation thus far by Iran against Israel has taken some of the risk premium out of crude prices.  Crude prices extended their losses today on the weak US housing starts report, which was negative for the energy demand outlook.  Dollar weakness today is a supportive factor for energy prices.  

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