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Rich Asplund

Crude Prices Slip on Tepid Global Energy Demand

Oil United States OPEC Hezbollah

August WTI crude oil (CLQ24) on Friday closed down -0.20 (-0.24%), and Aug RBOB gasoline (RBQ24) closed down -2.53 (-1.00%).

Crude oil and gasoline prices Friday settled moderately lower. Crude prices Friday fell back from a 1-3/4 month high and turned lower on concerns about global energy demand. Crude oil on Friday initially moved higher on heightened tensions in the Middle East, with Israel close to a full-blown war with Hezbollah in Lebanon and with Houthi rebels in Yemen stepping up their attacks on commercial shipping in the region.

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