CME/Nymex September crude shed $2.28 to close at $75.74/bbl

摘要

Oil tumbled more than 3%, bottoming out at an intraday low of $75.52 as initial jobless claims rose by 2,000 to 484,000 last week, marking the highest level since February. Tumbling US equities also led oil futures lower as investors nervousness and anxiety escalates that the US is slipping into a double-dip recession. Also adding to lower oil futures was the seasonal reduction in gasoline demand. Gasoline consumption in the US peaks between the Memorial Day and Labor Day weekends. Refineries often shut units for maintenance in September and October as gasoline demand wanes and before heating oil demand kicks in.