CNBC Interview 4/20/23
April 20, 2023
The economic indicators that hint at recession
April 21, 2023US crude-oil futures fall 1.5% to $77.97 a barrel and are 5.5% lower since the week began. “Crude oil is lower … as demand worries accelerate,” says Peter Cardillo at Spartan Capital in an email. Weekly EIA data yesterday showed US gasoline demand down sharply versus week-ago and year-ago numbers, at 8.5M barrels a day. Also, gasoline inventories unexpectedly rose by 1.3M barrels last week. RBOB gasoline futures that fell by 3.8% yesterday, the largest drop in more than a month, are down another 1.2% this morning at $2.6135 a gallon as they head for a fourth straight day of declines. Brent crude falls 1.4% to $81.94.
