WTI Oil Ends at Lowest Since Aug. 30 - The Wall Street Journal
WTI Oil Ends at Lowest Since Aug. 30 - WSJ
Updated Oct. 5, 2023 2:47 pm ET
1440 ET – US crude futures fall 2.3% to finish at a five-week-low $82.31 a barrel and have now fallen by 7.8% over the past two trading days, one of the largest two-day declines of the year. Brent crude also falls again, ending at around $84. “This oil market reversal must be frustrating the Saudis,” says Edward Moya at Oanda, in a note. “Brent crude has fallen over $10 since the end of last month as surging global bond yields have crippled the global growth outlook.” Moya says it’s hard to estimate where prices could find support, but adds that “If China’s outlook continues to improve, we could easily see a return back to the $90 level.” ( dan.molinski@wsj.com)
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Continue reading your article with
a WSJ subscription
Subscribe Now
Already a subscriber? Sign In
What to Read Next
- TurboTax: Save up to $15 with TurboTax coupon 2023
- The Motley Fool: Epic Bundle - 3x Expert Stock Recommendations
- H&R Block Tax: 15% OFF DIY Online Tax Filing Services | H&R Block Coupon
- Top Resume: Top Resume Coupon: 10% Off professional resume writing
- eBay: 5% off sitewide: Exclusive eBay discount code
- Groupon: Up to $50 off any order with Groupon promo code