Sep WTI crude oil (CLU24) on Friday closed down -1.51 (-1.93%), and Sep RBOB gasoline (RBU24) closed down -4.78 (-2.03%). Crude oil and gasoline prices dropped to 1-week lows on Friday. A lack of retaliation thus far by Iran against Israel has taken some of the risk premium out of crude prices. Crude prices were also pressured Friday by the weak US July housing starts report, which was negative for the energy demand outlook. The weaker dollar Friday was a supportive factor for energy prices. Weaker-than-expected global economic news Friday was mostly bearish for energy demand and crude prices….