Energy Demand Concerns Weigh on Crude Oil Prices

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were limited due to a weaker dollar and geopolitical risks in the Middle East.Nat-Gas Prices Climb on Colder US Weather ForecastsCrude Oil Prices Pull Back on Energy Demand ConcernsStop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now!Friday's weaker-than-expected US economic news was bearish for energy demand and crude prices.  Q4 GDP rose +1.4% (q/q annualized), weaker than expectations of +2.8%.  Also, the Feb S&P manufacturing PMI fell -1.2 to 51.2, weaker than expectations of no change at 52.4.  In addition, the University of Michigan US Feb consumer sentiment index was revised lower by -0.7 to 56.6, weaker than expectations of no change at 57.3.Crude prices jumped to a 6.5-month high on Thursday amid mounting geopolitical risks in the Middle East.  President Trump on Friday ramped up pressure on Iran to strike a deal over its nuclear program, saying he's considering a limited military strike on Iran to force it to accept a deal over its nuclear program.  On Thursday, Mr. Trump said 10 to 15 days was "pretty much" the "maximum" he would allow for negotiations to continue, and "We're either going to get a deal, or it's going to be unfortunate for them." Axios reported Wednesday that there's no evidence of a diplomatic breakthrough with Iran on a nuclear deal, and any military operation against Iran would likely be a joint US-Israeli campaign that could last for weeks and be much broader in scope than last month's US operation in Venezuela.  Meanwhile, the US Department of Transportation recently issued a maritime advisory stating that American-flagged ships should stay as far as possible from Iranian waters when navigating the Strait of Hormuz.  Iran is OPEC's fourth-largest producer, and a US attack on the country could disrupt its 3.3 million bpd of crude production and potentially close the Strait of Hormuz, through which about 20% of the world's oil passes. Wednesday's US-brokered meeting in Geneva to end the war between Russia and Ukraine ended early as Ukrainian President Zelenskiy accused Russia of dragging out the war.  Russia has said the "territorial issue" remains unresolved with Ukraine, and there's "no hope of achieving a long-term settlement" to the war until Russia's demand for territory in Ukraine is accepted.  The outlook for the Russia-Ukraine war to continue will keep restrictions on Russian crude in place and is bullish for oil prices.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,909.51 +47.62 (+0.69%)Dow 3049,625.97 +230.81 (+0.47%)Nasdaq22,886.07 +203.34 (+0.90%)Russell 20002,663.78 -1.31 (-0.05%)VIX19.09 -1.14 (-5.64%)Gold5,080.90 +83.50 (+1.67%)Trending tickersBTC-USD Bitcoin USD 67,939.73 +156.97 (+0.23%)ETH-USD Ethereum USD 1,970.22 +8.61 (+0.44%)XRP-USD XRP USD 1.42 -0.01 (-0.55%)SOL-USD Solana USD 84.84 +0.39 (+0.47%)BTC-CAD Bitcoin CAD 92,992.51 +214.85 (+0.23%)PortfolioSign in to access your portfolioSign inTop gainersRNG RingCentral, Inc. 39.50 +10.11 (+34.40%)LGN Legence Corp. 55.24 +7.96 (+16.84%)TLX Telix Pharmaceuticals Limited 7.69 +0.98 (+14.61%)SYRE Spyre Therapeutics, Inc. 43.21 +5.40 (+14.28%)FSM Fortuna Mining Corp. 12.27 +1.37 (+12.57%)Top losersFROG JFrog Ltd. 37.75 -12.54 (-24.94%)DNOW DNOW Inc. 13.23 -3.13 (-19.13%)CC The Chemours Company 17.04 -3.37 (-16.51%)AKAM Akamai Technologies, Inc. 94.17 -15.42 (-14.07%)RGC Regencell Bioscience Holdings Limited 29.17 -4.29 (-12.82%)Most activeNVDA NVIDIA Corporation 189.82 +1.92 (+1.02%)OPEN Opendoor Technologies Inc. 5.0000 +0.3500 (+7.53%)ONDS Ondas Inc. 10.03 -1.36 (-11.94%)INTC Intel Corporation 44.11 -0.51 (-1.14%)PLUG Plug Power Inc. 1.8700 -0.0400 (-2.09%)Top economic eventsEarnings eventsMy earnings eventsEarnings events