Crude Oil Brent (F) Futures Market News and Commentary
November WTI crude oil (CLX23) this morning is down -0.65 (-0.71%), and Nov RBOB gasoline (RBX23) is down -5.51 (-2.23%).
Nov WTI crude oil and gasoline prices this morning are moving lower, with gasoline tumbling to a 4-1/2 month low. Crude prices are under pressure after today’s weaker-than-expected global economic news sparked concerns that a slowdown in the global economy will undercut energy demand. A weaker dollar today is limiting losses in crude. Also, tight global crude supplies are a bullish factor for prices.
Today's global economic news was mostly weaker than expected and bearish for energy demand and crude prices. U.S. Aug personal spending rose +0.4% m/m, weaker than expectations of +0.5% m/m. Also, the U.S. Sep MNI Chicago PMI fell -4.6 to 44.1, weaker than expectations of 47.6. In addition, German Aug retail sales unexpectedly fell -1.2 % m/m, weaker than expectation of an increase of +0.5% m/m and the biggest decline in 8 months. Finally, Japan Se... Read more
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November WTI crude oil (CLX23 ) this morning is down -0.65 (-0.71%), and Nov RBOB gasoline (RBX23 ) is down -5.51 (-2.23%). Nov WTI crude oil and gasoline...
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November WTI crude oil (CLX23 ) on Thursday closed down -1.97 (-2.10%), and Nov RBOB gasoline (RBX23 ) closed down -8.39 (-3.29%). Nov WTI crude oil and...
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