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Rich Asplund

Energy Demand Concerns Weigh on Crude Prices

Oil United States OPEC Iran Ukraine EIA Russia

March WTI crude oil (CLH26) today is down -0.33 (-0.51%), and March RBOB gasoline (RBH26) is down -0.0195 (-0.98%).

Crude oil and gasoline prices are under pressure today on energy demand concerns after US retail sales in December unexpectedly stagnated, a sign of weakness in consumer spending that is bearish for economic growth and energy demand. Losses in crude are limited after the dollar index ($DXY) fell to a 1-week low today. Also, US-Iran tensions are adding a risk premium to crude prices.

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