The WTI front-month contract fell $3.00, or 4%, last week to settle at $71.34/bbl on
Friday. A surprise 6.0 MMbbl build in US crude inventories, a 132,000 bo/d increase in
OPEC September production and negative revisions to global growth and oil demand
projections all put downward pressure on prices. In addition, US markets in general
experienced sell-offs with the S&P 500
down 4.1% last week to 2,767.
On Monday, Oct. 8, WTI fell 5 cents to
$74.29/bbl. Ahead of the Nov.......
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