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Barchart
Barchart
Rich Asplund

EXPLAINED: Crude settles lower on global energy demand concerns - The Real Truth

Oil United States Vortexa

November WTI crude oil (CLX23) on Friday closed down -0.92 (-1.00%), and Nov RBOB gasoline (RBX23) closed down -6.67 (-2.70%).

Nov WTI crude oil and gasoline prices Friday retreated, with gasoline tumbling to a 4-1/2 month low.  Crude prices were under pressure after Friday’s weaker-than-expected global economic news sparked concerns that a slowdown in the global economy will undercut energy demand.  A weaker dollar Friday limited losses in crude.  Also, tight global crude supplies are a bullish factor for prices.

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