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Barchart
Barchart
Rich Asplund

Crude Prices Slip on the Outlook for Ample Global Supplies

Oil IEA OPEC United States Russia EIA

November WTI crude oil (CLX25) on Wednesday closed down -0.43 (-0.73%), and November RBOB gasoline (RBX25) closed up +0.0058 (+0.32%).

Crude oil and gasoline prices settled mixed on Wednesday.  Crude remains under pressure on concerns over a global supply glut after the IEA on Tuesday forecast a record global oil glut of 4.0 million bpd for 2026.   Strength in stocks on Wednesday and a weaker dollar were supportive factors for crude.

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