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Barchart
Rich Asplund

Easing Global Supply Concerns Weigh on Crude Prices

Oil OPEC United States Russia

October WTI crude oil (CLV25) today is down -0.33 (-0.51%), and October RBOB gasoline (RBV25) is down -0.0122 (-0.62%).

Crude oil and gasoline prices are under pressure today, with gasoline falling to a 1-week low.  Global crude supply concerns have eased and are weighing on prices after Russia announced that its Volgograd refinery, which can process 300,000 bpd of crude oil, will resume operations a week earlier than planned, as repairs to the refinery were made following drone attacks by Ukraine.  Today's weaker dollar is limiting losses in crude.

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