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Barchart
Rich Asplund

Crude Prices Sink on Outlook for OPEC+ to Maintain Crude Production Targets

Oil OPEC Nymex United States EIA Natural Gas

July WTI crude oil (CLN23) this morning is down -3.01 (-4.05%), and July RBOB gasoline (RBN23) is down -9.74 (-3.72%).   June Nymex natural gas (NGM23) is down -0.059 (-2.46%).

Crude oil and gasoline prices this morning are sharply lower.  A rally in the dollar index today to a 2-1/4 month high is bearish for energy prices.  Also, the outlook for OPEC+ to maintain its crude production targets when it meets on June 4 is weighing on crude prices.

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