November WTI crude oil (CLX23) on Monday closed down -1.97 (-2.17%), and Nov RBOB gasoline (RBX23) closed up +1.27 (+0.53%).
Nov WTI crude oil and gasoline prices on Monday settled mixed. Monday's rally in the dollar index to a 10-month high was bearish for energy prices. Crude prices also fell on the threat of higher interest rates that could slow economic growth and energy demand after Fed Governor Bowman said, "I continue to expect that further interest rate increases will likely be needed to return inflation to 2% in a timely way as high energy prices could reverse some of the progress we have seen on inflation in recent months."
