NYMEX September crude closed $1.07 lower at $42.23/b Thursday. The contract hit a low of $41.91/b prior to the NYMEX settle, the lowest intraday level since March 4, 2009. ICE September Brent settled 44 cents lower at $49.22/b. NYMEX September RBOB closed 4.94 cents lower at $1.7141/gal, and September ULSD fell 1.82 cents to settle at $1.5687/gal. Lingering concerns related to weak global oil demand and excess supply have dragged down crude prices, particularly in North America, where the situation has been aggravated by the closure of a crude distillation unit at BP’s 430,000 b/d refinery in Whiting, Indiana. An International Energy Agency monthly oil market report showed that while oil demand is robust, the global oil supply surplus is set to carry into 2016. Article continues below… Oilgram Price Report is a daily report that covers market changes, market fundamentals and factors driving prices. Oilgram Price Report also […]