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Barchart
Rich Asplund

Crude Slightly Lower on Energy Demand Concerns in China

Oil China Nymex United States Natural Gas OPEC

July WTI crude oil (CLN23) this morning is down -0.08 (-0.11%), and July RBOB gasoline (RBN23) is down -0.16 (-0.06%).  July Nymex natural gas (NGN23) is down -0.063 (-2.68%).

Crude oil and gasoline prices today are slightly lower.  A stronger dollar today is undercutting energy prices.  Also, concern about weakness in China's energy demand is bearish for crude prices.  A bullish factor for crude is today's rally in the S&P 500 to a 9-3/4 month high, which shows confidence in the economic outlook that is supportive for energy demand.

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