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Barchart
Barchart
Rich Asplund

Crude Undercut by Concern about Weak Chinese Energy Demand

Oil crude oil China United States Economy Russia Vortexa

September WTI crude oil (CLU23) this morning is down -0.16 (-0.20%), and Sep RBOB gasoline (RBU23) is down -0.37 (-0.13%).

Crude oil and gasoline prices this morning are moderately lower.  A stronger dollar today is weighing on energy prices.  Also, concerns about China's economy are undercutting crude prices after China's July exports and imports fell more than expected.  In addition, concern about the health of the U.S. banking sector is hammering stocks today and undercutting confidence in the economic outlook, which is bearish for energy demand and crude prices.  Tightness in global oil supplies is limiting losses in crude prices.

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