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Barchart
Barchart
Rich Asplund

Weak US Economic Reports Weigh on Crude Oil Prices

Oil United States OPEC Economic Growth Vortexa

June WTI crude oil (CLM25) today is down -1.07 (-1.72%), and June RBOB gasoline (RBM25) is down -0.0331 (-1.58%).

Crude oil and gasoline prices today are sharply lower, with crude dropping to a 1-1/2 week low.  Today's weaker-than-expected US job openings and consumer confidence reports were negative for economic growth and energy demand.  Also, today's stronger dollar is negative for energy prices.  Oil prices continue to be undercut by concern that the US-China trade war would persist after President Trump said the US would not lower tariffs on China unless "they give us something substantial."

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