August WTI crude oil (CLQ23) Friday closed down -0.35 (-0.50%), and Aug RBOB gasoline (RBQ23) closed down -3.49 (-1.41%).
Crude oil and gasoline prices Friday extended Thursday's sell-off on economic gloom driven by the weak U.S. and Eurozone purchasing manager reports. The preliminary-June S&P U.S. PMI fell by -2.1 points to a 6-month low of 46.3, weaker than expectations for a +0.1 point increase to 48.5. Meanwhile, the preliminary-June S&P Eurozone composite PMI fell by -2.5 points to a 5-month low of 50.3, much weaker than market expectations of 52.5.
