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Rich Asplund

Energy Demand Concerns Weigh on Crude Prices

Oil United States GDP EIA OPEC

June WTI crude oil (CLM24) this morning is down -0.50 (-0.59%), and May RBOB gasoline (RBK24) is down -1.79 (-0.66%).

Crude and gasoline prices this morning are moderately lower on energy demand concerns after US Q1 GDP growth rose less than expected. Losses in crude are limited after the dollar index fell to a 1-1/2 week low. Crude also has carryover support from Wednesday's weekly report from the EIA, which showed that crude inventories unexpectedly declined.

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