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Rich Asplund

EXPLAINED: Crude prices retreat on technical selling - The Real Truth

Oil OPEC EIA United States Vortexa IEA Red Sea Russia

April WTI crude oil (CLJ24) on Wednesday closed down -1.79 (-2.14%), and Apr RBOB gasoline (RBJ24) closed down -2.90 (-1.05%).

Crude oil and gasoline prices posted moderate losses on Wednesday. An early rally in the dollar index Wednesday to a 2-1/2 week high pressured energy prices. Also, technical selling weighed on crude as prices neared overbought levels on Tuesday after climbing to a 4-1/2 month high. Wednesday's weekly EIA report was mixed for crude and products.

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