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Barchart

Rich Asplund

Crude Prices Weighed Down as Weekly EIA Supplies Jump

Oil EIA United States Iran

Nov WTI crude oil (CLX24) today is down -0.34 (-0.46%), and Nov RBOB gasoline (RBX24) is down -0.11 (-0.05%).

Crude oil and gasoline prices today are moderately lower. Today's rally in the dollar index (DXY00) to a 1-3/4 month high is bearish for energy prices. Also, today's larger-than-expected build-in weekly EIA crude inventories have undercut oil prices. Losses in crude oil are limited due to concerns about the escalation of Middle Eastern hostilities that could disrupt Middle Eastern crude supplies.

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