Market concerns about oil demand outlook International oil prices fell significantly on September 15

As of the close of trading on the 15th, the price of light crude oil futures for October delivery on the New York Mercantile Exchange fell $3.
38, or 3.
82%, to close at $85.
10 per barrel
.

Xinhua Finance New York, September 15 (Reporter Liu Yanan) Due to market concerns about the prospect of oil demand, international crude oil futures prices consolidated weakly in the overnight market, fluctuating and falling in early trading on the 15th, followed by a narrow consolidation, and international oil prices fell
significantly at the close.

Light crude futures for October delivery fell $3.
38, or 3.
82%,
to settle at $85.
10 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for November delivery fell $3.
26, or 3.
46%, to settle at $90.
84 a barrel
.

Chief Market Economist at investment firm Spartan Capital Securities, Pete Smith.
Peter Cardillo said he maintained a cautious stance
on oil prices in the near term as rising interest rates weighed on the global economy, hurting oil demand.

On the other hand, New York oil prices are expected to fluctuate
between $82 and $92 a barrel next quarter, Cadillo said.

Chubb Senior Market Analyst Craig.
Craig Erlam said there are many factors that dominate oil prices in the market right now, and economic uncertainty is undoubtedly one of them
.

FXEmpire analyst Christopher .
Christopher Lewis said on the 15th that New York oil prices fell significantly on the 15th, and the market looked ready to continue to fall
overall.
It is expected that New York oil prices are likely to test the $80 per barrel level again
.
Since the problems facing oil demand will weigh on the market, the current rally is more of an opportunity
to sell.

Lewis believes that oil prices are technically in a downward channel, and the recent death crossover, both of which have hit market confidence, and sellers are expected to continue to prevail
.

PVM Petroleum Associates analyst Tamas.
Tamas Varga said that while challenging the $100 per barrel mark upwards is not a sure thing to do at this time, it looks like Brent crude futures have bottomed around $90 a barrel, largely due to supply concerns
related to geopolitical conflicts.

Tariq Fried, head of Tyche Capital Advisors.
Tariq Zahir said Bloomberg reported this week that the U.
S.
could begin refilling the Strategic Crude Reserve when oil prices fell to $80 a barrel, a news that essentially supported oil prices at the $80 per barrel level
.

Schneider Electric Commodities Global Analyst Robbie.
Robbie Fraser said that with the government's oil reserves dwindling, there are rumors that the United States needs to reverse policy and buy oil to keep oil inventories at more sustainable levels
.
Currently, oil reserves are at their lowest level
in nearly 40 years.