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Rich Asplund

Crude Prices Slip on Energy Demand Concerns and Bountiful Global Oil Supplies

Oil United States Canada OPEC China EIA Vortexa

April WTI crude oil (CLJ25) today is down -0.42 (-0.63%), and April RBOB gasoline (RBJ25) is down -0.0391 (-1.83%).

Crude oil and gasoline prices today are moderately lower, but crude oil remains above Wednesday's 1-3/4 year low. Crude oil prices are under pressure as US tariff uncertainty weighs on the outlook for energy demand. Also, ramped-up Russian oil exports boost global supplies and are negative for prices. In addition, crude prices have some negative carryover from Wednesday when weekly EIA crude inventories rose more than expected to a 7-month high.

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