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Barchart
Rich Asplund

Crude Prices Slide on Global Energy Demand Concerns

Oil crude oil United States China Yellen Economy OPEC

August WTI crude oil (CLQ23) on Monday closed down -0.87 (-1.18%), and Aug RBOB gasoline (RBQ23) closed down -1.97 (-0.76%).

Crude oil and gasoline prices Monday settled moderately lower.  Concerns that a slowdown in China's economy will crimp its energy demand weighed on crude prices Monday.  Also, comments from U.S. Treasury Secretary Yellen undercut crude prices when she said the risk of a U.S. recession isn't "off the table."  A bullish factor for energy prices was Monday's decline in the dollar index (DXY00) to a 2-week low.

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