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Rich Asplund

Economic Concerns Weigh on Crude Prices

Oil United States OPEC China Economic Growth Hamas Vortexa

May WTI crude oil (CLK25) today is down -0.42 (-0.60%), and May RBOB gasoline (RBK25) is down -0.0071 (-0.31%).

Crude oil and gasoline today are trading lower on concern that US tariffs will lead to a global trade war that undercuts economic growth and energy demand. Also, weaker-than-expected US economic news today on personal spending and consumer sentiment was negative for crude demand and prices. In addition, today's slump in equity markets has sparked risk-off sentiment in asset markets and is weighing on crude. Today's weaker dollar is limiting losses in crude.

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