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Barchart
Rich Asplund

Crude Prices Slip on a Dollar Recovery and Chinese Energy Demand Concerns

Oil EIA OPEC United States AAA

February WTI crude oil (CLG24) this morning is down -0.91 (-1.23%), and Feb RBOB gasoline (RBG24) is down -2.03 (-0.94%).

Crude oil and gasoline prices this morning are moderately lower.   A recovery in the dollar (DXY00) from a 5-month low to higher on the day is undercutting energy prices.  Also, concern about a slowdown in Chinese energy demand is weighing on crude prices.   Losses in crude are limited after weekly EIA crude inventories fell more than expected.

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