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Trade Service
In the early morning of November 18, Beijing time, the price of U.
S.
WTI crude oil futures closed down nearly 5% on Thursday, hitting its lowest closing price
since the end of September.
"The adverse impact of global economic growth pressures on the outlook for future crude oil demand, and the increasingly hawkish rhetoric of Fed officials, are significant headwinds to the oil market today," said
Tyler Richey, co-editor of Sevens Report Research.
"If the news flow continues to remain as negative as it is today, it is increasingly
likely that the U.
S.
WTI crude oil futures price will test the mid-to-upper part of the late September low of $70," he said.
”
U.
S.
benchmark West Texas Intermediate (WTI) crude for December delivery fell $3.
95, or 4.
6 percent, to settle at $81.
64 a barrel, the lowest close for the most active contract since Sept.
30
.
