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Concerns of a Global Supply Glut and Weak Energy Demand Hammer Crude Prices
Yahoo Finance· 2025-10-02 19:17
November WTI crude oil (CLX25) on Thursday closed down -1.30 (-2.10%), and November RBOB gasoline (RBX25) closed down -0.0349 (-1.85%). Crude oil and gasoline prices sold off on Thursday, with crude posting a 4-month nearest-futures low and gasoline posting a 4.5-year low.   Crude prices are retreating as OPEC+ is set to increase its crude production levels, which will boost global supplies and potentially lead to a worldwide oil supply glut.   Thursday's dollar strength was also bearish for crude prices. ...