06 Oct, 23

$100 Oil Is Now Firmly Out Of Reach

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With oil prices having crashed this week and demand concerns only mounting, it seems bullish traders will have to forget about triple-digit oil prices for now.Friday, October 6th, 2023The worst week for crude since March, oil prices have shed $10 per barrel this week, pressurized by the US bond selloff that soured the economic outlook into 2024 and then suffered another blow from this week’s EIA numbers that indicated a steep drop in gasoline demand across the US. With Friday focused on US non-farm payroll data, ICE Brent climbing to triple…

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