Crude oil and gasoline prices fell on Friday due to a risk-off sentiment in asset markets and weaker global economic news, impacting energy demand. Concerns about the war in Ukraine led to speculation of sanctions on Russian energy exports. Various economic indicators, such as the University of Michigan consumer sentiment index and Germany’s retail sales, showed weakness. OPEC+ increased crude production, adding pressure on prices. US oil inventories were below the seasonal average, while the number of active US oil rigs slightly increased. Oil stored on tankers also rose, further impacting prices.

Read more at Yahoo Finance: Crude Prices Settle Lower on Energy Demand Concerns