Oil prices sank today but were still on track for weekly gains despite supply disruptions in the Gulf which are only expected to be short-term. Financial markets, particularly US equities, have been strong ever since this week’s lower-than-expected CPI print. In the United States, import prices fell for the first time in seven months in July, helped by a strong dollar and lower fuel and nonfuel costs, while consumers’ one-year inflation outlook ebbed in August, the latest signs that price pressures may have peaked. “We are seeing an economic slowdown, but it’s unclear if it’s as big a slowdown as some of the recent outlooks have been predicting,” said Ole Hansen, head of commodity strategy at Saxo Bank. “The demand will ebb and flow, but supply is still the main concern.” WTI traded down $2.25 or -2.4% to close at $92.09. Brent traded down $1.45 or -1.5% to close at $98.15.