Free Trial

Brent and WTI Fall Towards Weekly Low

OIL

Crude falls 3% today towards the lowest on the week as global recession fears could lead to lower demand.

  • Concerns that ongoing covid restrictions in China will limit their demand recovery are adding to the downward pressure.
  • Next technical support is at the Oct 13 low of 91.08$/bbl for Brent and 85.56$/bbl for WTI.
    • Brent DEC 22 down -2.9% at 91.84$/bbl
    • WTI NOV 22 down -3.5% at 85.99$/bbl
    • WTI-Brent down -0.2$/bbl at -6.89$/bbl
    • Brent DEC 22-JAN 23 down -0.15$/bbl at 1.5$/bbl
    • Brent DEC 22-DEC 23 down -0.71$/bbl at 12.04$/bbl

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.