May 23, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Despite a recent bounce on geopolitical concerns, crude oil prices continued their retreat amid signs of lackluster demand in the U.S. economy, the worlds' largest, data show. A report late Wednesday from CNN that Israel was considering a military strike on Iranian nuclear facilities and threatening some 1.5 million barrels per day of crude oil in the process sent commodities on a bull run. But by Thursday morning, the rally evaporated with West Texas Intermediate, the U.S. benchmark for the price of oil, down more than 1% to $60.80 per barrel at the opening bell.
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