November WTI crude oil (CLX25) on Wednesday closed down -0.59 (-0.95%), and November RBOB gasoline (RBX25) closed down -0.0364 (-1.89%).
Crude oil and gasoline prices on Wednesday extended this week's selloff, with crude falling to a 4-month nearest-futures low and gasoline dropping to a 10.5-month low. Crude prices are sliding on concerns about a global supply glut as OPEC+ is set to increase its crude production levels. Crude prices added to their losses on Wednesday after weekly EIA crude and gasoline inventories rose more than expected. Wednesday's decline in the dollar index (DXY00) to a 1-week low limited losses in energy prices.
