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Barchart
Barchart
Rich Asplund

Crude Prices Retreat on Risk-Off Sentiment

Oil EIA United States Politburo

September WTI crude oil (CLU23) on Wednesday closed down -1.88 (-2.31%), and Sep RBOB gasoline (RBU23) closed down -9.72 (-3.38%).

Crude oil and gasoline prices Wednesday closed sharply lower.  Crude prices fell back from a 3-1/2 month high and retreated after a plunge in stocks sparked risk-off sentiment in asset markets that undercut crude prices.  Also, Wednesday's rally in the dollar index to a 3-week high was bearish for energy prices.  Crude prices briefly recovered their losses after weekly EIA crude inventories fell more than expected.  

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