• Forex
  • Investments
  • Loyalty program
  • Promotions
  • Analysis
  • Getting started
  • About us

Demand woes sending Brent to third weekly loss

Brent oil is trading close to its late-September lows, after briefly dipping to its lowest since January at the onset of the trading week.

Market participants are also turning less bullish on oil, with price patterns flashing bearish signals.

Demand woes sending Brent to third weekly loss

Given China’s role as the world’s biggest importer, ongoing Covid-Zero measures amidst record daily infections are crimping demand for the commodity in the world’s second largest economy.

Demand-side fears are now clearly in the driver’s seat for determining oil prices.

As long as global recession woes continue to grip market sentiment, OPEC+ supply cuts may just offer a supportive role for oil benchmarks, as opposed to major catalysts for surging prices.



There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.