Crude Closes Sharply Lower as Saudi Price Cuts Signal Weak Energy Demand

Crude Closes Sharply Lower as Saudi Price Cuts Signal Weak Energy Demand

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February WTI crude oil (CLG24 ) on Monday closed down -3.04 (-4.12%), and Feb RBOB gasoline (RBG24 ) closed down -7.77 (-3.69%). Crude oil and gasoline prices on Monday sold off sharply, with gasoline falling to a 3-1/2 week low. Concern that global oil demand is worsening is undercutting crude...

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