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Barchart
Rich Asplund

EXPLAINED: Energy demand concerns undercut crude oil prices - The Real Truth

Oil OPEC United States Russia EIA Venezuela Vortexa

January WTI crude oil (CLF26) on Monday closed down -0.62 (-1.08%), and January RBOB gasoline (RBF26) closed down -0.0198 (-1.13%).

Crude oil and gasoline prices were under pressure on Monday, with crude oil falling to a 1.75-month low and gasoline posting a 4.75-year nearest-futures low.  Concerns about global energy demand are weighing on crude prices amid weaker-than-expected Chinese economic news.  Also, Monday's decline in the S&P 500 to a 2-week low dampens optimism about the economic outlook, which is negative for energy demand.  In addition, the potential for a Russian-Ukrainian ceasefire reduces geopolitical risks and is negative for crude prices.  

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