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Barchart
Barchart
Rich Asplund

Crude Prices Slide on Dollar Strength and Robust EIA Crude Inventories

Oil EIA United States OPEC China

March WTI crude oil (CLH25) today is down -1.10 (-1.50%), and March RBOB gasoline (RBH25) is down -0.0320 (-1.49%).

Crude oil and gasoline prices today are moderately lower.  Today's rally in the dollar index (DXY00) to a 1-week high weighs energy prices.  Also, today's fall in the S&P 500 to a 1-week low undercuts confidence in the economic outlook and energy demand.  Crude prices extended their losses after weekly EIA crude inventories rose more than expected.

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