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Rich Asplund

Crude Prices Tumble on Dollar Strength and Energy Demand Concerns in China

Oil China OPEC United States EIA

Sep WTI crude oil (CLU24) today is down -1.31 (-1.70%), and Sep RBOB gasoline (RBU24) is down -3.93 (-1.63%).

Crude oil prices today are moderately lower, with crude tumbling to a 7-week low. Today's rally in the dollar index (DXY00) to a 2-week high is undercutting energy prices. Also, energy demand concerns in China, the world's second-largest crude consumer, are weighing on crude prices after China recently reported Q2 GDP that was the slowest economic growth in five quarters.

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