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Barchart
Barchart
Rich Asplund

Crude Prices Tumble on Dollar Strength and Large Build in EIA Inventories

December WTI crude oil (CLZ24) today is down -1.13 (-1.58%), and December RBOB gasoline (RBZ24) is down -3.83 (-1.88%).

Crude and gasoline prices today are moderately lower.  Today's rally in the dollar index (DXY00) to a 2-3/4 month high is undercutting energy prices.  Also, renewed efforts to secure a cease-fire to hostilities in the Middle East are reducing geopolitical risks and are negative for crude prices.  Crude oil extended its losses today after weekly EIA crude inventories rose more than expected.  

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