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Rich Asplund

Crude Prices Slip as Geopolitical Risks Ease and Weekly EIA Crude Inventories Climb

Oil EIA United States Hamas Israel

December WTI crude oil (CLZ23) this morning is down -0.24 (-0.29%), and Dec RBOB gasoline (RBZ23) is down -0.40 (-0.12%).

Nov WTI crude oil and gasoline prices this morning are moderately lower and fell to 1-1/2 week lows. A stronger dollar this morning is weighing on crude prices. Crude oil prices are also under pressure on an easing of geopolitical risks in the Middle East as Israel delays an expected ground assault on Gaza. Crude prices remained lower on today's bearish weekly EIA inventory report that showed unexpected increases in crude and gasoline supplies.

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