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Due to the pressure on market demand prospects, international oil prices fell
on October 28.
As of the close of the day, light crude for December delivery on the New York Mercantile Exchange fell $1.
18, or 1.
32%,
to settle at $87.
90 a barrel.
London Brent crude for December delivery fell $1.
19, or 1.
23 percent
, to settle at $95.
77 a barrel.
Stephen, Head of Trading and Market Strategy at SPI Asset Management.
Stephen Innes said that some oil bulls based on a weaker dollar and a dovish turn in the Fed may have reduced their long positions ahead of the Fed meeting, and many still believe that now is not the time to cheer the Fed's monetary policy turn to
dovish.
ANZ analysts said markets remain alarmed
amid an EU embargo on Russian offshore exports that will take effect on December 5.
According to data released by oilfield service company Baker Hughes on the 28th, the number of active oil rigs in the United States that week was 610, down 2 month-on-month and an increase of 166 year-on-year
.
During the same period, the number of active oil rigs in Canada was 145, an increase of 1 month-on-month and 47 year-on-year
.
