April WTI crude oil (CLJ25) Monday closed down -1.01 (-1.51%), and April RBOB gasoline (RBJ25) closed down -0.0162 (-0.77%).
Crude oil and gasoline prices on Monday posted moderate losses. Monday's selloff in the S&P 500 to a 5-3/4 month low sparked risk-off sentiment in asset markets, weighing on crude prices. Also, signs of economic weakness in China are negative for energy demand after China's consumer prices posted their steepest decline in 13 months. In addition, concern that US tariffs will spark a trade war that dampens economic growth and energy demand are undercutting crude prices. Losses in crude oil accelerated Monday after the dollar recovered from early losses and moved higher.
