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Barchart
Barchart
Rich Asplund

Crude Prices Undercut by Concerns of a Global Supply Glut

Oil IEA OPEC United States Russia

November WTI crude oil (CLX25) today is down -0.33 (-0.56%), and November RBOB gasoline (RBX25) is up +0.0035 (+0.19%).

Crude oil and gasoline prices are mixed today.  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 today and a weaker dollar are limiting losses in crude.

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