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Barchart
Barchart
Rich Asplund

Risk-Off Sentiment in Asset Markets Weighs on Crude Oil Prices

March WTI crude oil (CLH26) on Thursday closed down -1.79 (-2.77%), and March RBOB gasoline (RBH26) closed down -0.0630 (-3.18%).

Crude oil and gasoline prices sold off sharply on Thursday, with gasoline falling to a 1-week low.  The slight easing of US-Iran tensions sparked long liquidation in energy futures.  Also, Thursday's retreat in equity markets sparked a risk-off sentiment in asset markets, weighing on crude prices.  In addition, mounting crude supplies in floating storage are undercutting oil prices.  

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