10 Nov, 23

Oil Prices Under Pressure But Sentiment Could Soon Shift

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Oil prices continued to tumble this week as demand concerns and inventory build-ups added to bearish sentiment, but with an OPEC+ meeting at the end of the month and the potential of an escalation in the Gaza war things could change rapidly.Friday, November 10th, 2023Battered by inventory build-ups, weaker-than-expected Chinese economic data, and slackening physical demand coming from skyrocketing freight costs, oil prices have struggled this week and ICE Brent is set for a $5 per barrel week-on-week drop, settling around the $80 per barrel mark.…

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