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Opening PricesBRENT / WTI
Closing PricesBRENT / WTI
brent47.65dollars
per barrel
wti
wti46.32dollars
per barrel
brent47.65dollars
per barrel
wti
wti46.32dollars
per barrel

monthly
review

October Crude Oil began August under pressure as lingering supply concerns and weakening demand issues continued into the new month. After finishing July at $42.33, sellers drove the market into its lowest level in nearly 4 months. Profit-takers stopped the price slide on August 3 after crude reached $39.96, its weakest price since April 5. The spike to the downside on that day was a result of a bearish U.S. Energy Information Administration’s (EIA) weekly petroleum status report that showed commercial crude inventories increased to a historically high level for this time of year, according to the EIA. After building a record short position, short-covering by hedge fund managers helped the initial rally gain traction...Read more

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James Hyerczyk

FXEmpire

brent
wti
Source:
Bloomberg
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