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Rich Asplund

FORGOTTEN HISTORY: Crude prices pressured as opec boosts production | History Defined

Oil OPEC United States Vortexa

June WTI crude oil (CLM25) Monday closed down -1.16 (-1.99%), and June RBOB gasoline (RBM25) closed up +0.0029 (+0.14%).

Crude oil and gasoline prices on Monday settled mixed, with crude posting a 3-1/2 week low.  Concern about a global crude oil supply glut weighed on oil prices Monday after OPEC+ agreed to raise crude production and Saudi Arabia signaled that further increases are coming.  Monday's weaker dollar and signs of strength in the US service sector limited losses in crude.  

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