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Rich Asplund

Energy Demand Concerns Undercut Crude Prices

Oil United States EIA OPEC Russia Economy Ukraine

October WTI crude oil (CLV25) on Wednesday closed down -0.47 (-0.73%), and October RBOB gasoline (RBV25) closed down -0.0129 (-0.63%).

Crude oil and gasoline prices were under pressure on Wednesday from energy demand concerns. Wednesday's weaker-than-expected US housing starts and building permits reports were bearish for the economy and energy demand. Losses in crude were limited after weekly EIA crude inventories and gasoline supplies fell more than expected.

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