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Rich Asplund

EXPLAINED: Dollar strength and stock market weakness undercut crude oil prices | Vintage Vibes

Oil OPEC United States EIA Russia Venezuela Vortexa

January WTI crude oil (CLF26) on Friday closed down -0.16 (-0.28%), and January RBOB gasoline (RBF26) closed down -0.0077 (-0.44%).

Crude oil and gasoline prices moved lower on Friday, with gasoline posting a 4.75-year nearest-futures low.  Friday's dollar strength weighed on energy prices.  Also, Friday's stock weakness has dampened optimism about the economic outlook, a negative factor for energy demand and crude prices.  In addition, concerns about a global oil glut continue to pressure crude prices.  

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