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1.Market Observations, 8.Was Sticky

27 Nov 2018 (AFR) – Oil slide rings alarm bell for global economy

(27 November 2018, AFR, p27, by Sarah Turner)

WTI Crude oil price (Bloomberg, AFR)

WTI Crude oil price (Bloomberg, AFR)

‘Another collapse in the oil price late last week is sending worrying signals about the health of the global economy, with the picture for the commodity further clouded by supply and demand trends and the US President publicly backing lower prices. By the end of the regular trading session on Friday, West Texas Intermediate crude had dropped 7.7 per cent to $US50.42 a barrel, while Brent crude fell 6.1 per cent to $US58.80 a barrel. Brent crude has now fallen 31 per cent since touching a 52-week high of $US86.29 on October 3 and WTI is 34 per cent…’

Read more (and see the graph of Brent Crude oil) at AFR.com (might need AFR login access, or try: AFR.com/trial)

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