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Barchart
Rich Asplund

Crude Prices Settle Lower as OPEC+ Discusses a Crude Production Hike

OPEC Oil United States Vortexa

June WTI crude oil (CLM25) Friday closed down -0.95 (-1.60%), and June RBOB gasoline (RBM25) closed down -0.0293 (-1.43%).

Crude oil and gasoline prices fell moderately on Friday after OPEC+ brought forward its meeting to discuss an increase in crude production, bolstering concerns about a global supply glut.  Losses in crude were limited by a weaker dollar and a rally in the S&P 500 to a 1-month high, which shows confidence in the economic outlook that supports energy demand.

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