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Barchart
Barchart
Rich Asplund

Crude Prices Slip on Higher OPEC Crude Output

Oil OPEC Vortexa United States

April WTI crude oil (CLJ24) this morning is down -0.71 (-0.89%), and Apr RBOB gasoline (RBJ24) is down -1.70 (-0.65%).

Crude oil and gasoline prices this morning are moderately lower.  An increase in OPEC crude production is bearish for oil prices.  Also, today's weakness in stocks curbs confidence in the economic outlook and is negative for energy demand.  Today's weaker dollar and ongoing geopolitical risks in the Middle East support crude.  

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