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Crude Oil WTI May '22 (CLK22)

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Crude Oil WTI Prices for [[ item.sessionDateDisplayLong ]]
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Crude Oil WTI Futures Market News and Commentary

Crude Closes Lower On China Energy Demand Woes

December WTI crude oil (CLZ24) Friday closed down -1.98 (-2.74%), and December RBOB gasoline (RBZ24) closed down -0.0411 (-2.00%).

Crude oil and gasoline prices Friday were under pressure after Chinese stimulus measures were seen as underwhelming, which may keep Chinese economic growth and energy demand subdued.  Also, Friday's dollar strength weighed on energy prices.  In addition, crude oil prices are being undercut by speculation that President-elect Trump's policies will increase US crude production and that new tariffs may slow China's economy.

Friday's Chinese stimulus announcement fell short of hopes for more measures to stimulate consumer demand in China and revive its slumping housing market.  The Chinese government announced a 10-trillion yuan ($1.4 trillion) multi-year program to refinance local debt, disappointing analysts looking for more steps to contend with China's slowing economy.

Friday's stronger-than-expected global economic news supported energ... Read more

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