January WTI crude oil (CLF26) on Monday closed down -0.62 (-1.08%), and January RBOB gasoline (RBF26) closed down -0.0198 (-1.13%).
Crude oil and gasoline prices were under pressure on Monday, with crude oil falling to a 1.75-month low and gasoline posting a 4.75-year nearest-futures low. Concerns about global energy demand are weighing on crude prices amid weaker-than-expected Chinese economic news. Also, Monday's decline in the S&P 500 to a 2-week low dampens optimism about the economic outlook, which is negative for energy demand. In addition, the potential for a Russian-Ukrainian ceasefire reduces geopolitical risks and is negative for crude prices.
