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Barchart
Barchart
Rich Asplund

Global Oil Glut Concerns Weigh on Crude Prices

September WTI crude oil (CLU25) Monday closed down -1.04 (-1.54%), and September RBOB gasoline (RBU25) closed down -0.0164 (-0.77%).

Crude oil and gasoline prices settled lower on Monday after OPEC+ on Sunday raised its crude production levels, stoking fears of a global supply glut.  Crude prices recovered from their worst levels due to dollar weakness and after President Trump threatened to raise tariffs on India "substantially" for buying Russian crude oil.  

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