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Barchart
Barchart
Rich Asplund

Crude Under Pressure on a Smaller-Than-Expected Draw in EIA Inventories

EIA Oil US Federal Reserve United States Politburo

September WTI crude oil (CLU23) this morning is down -0.23 (-0.29%), and Sep RBOB gasoline (RBU23) is up +5.32 (+1.89%).

Crude oil and gasoline prices this morning are mixed.  Crude prices are modestly lower after weekly EIA crude inventories fell less than expected.  Also, the Fed's expected 25 bp rate hike at today's FOMC meeting may slow the economy and negatively affect energy demand and crude prices.  Weakness in the dollar today is supportive of energy prices.

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