The WTI front-month contract fell to a six-month low last week, dropping $4.45, or 6.6%, to $63.14/bbl. Prices fell every day during the week as oversupply fears and a lower global economic growth forecast continued to fuel bearish sentiment.“The market has moved from expectations of massive supply scarcity in the fourth quarter to quite opposite expectations of a looming oversupply,” Commerzbank head of commodities Eugen Weinberg told Bloomberg. “The focus has shifted, leading to......
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