Down 20% Since October: Can the Spectacular Fall in Oil Prices Continue?
BREAKDOWN - The barrel has dipped below $90. The decline is driven by hope of a deal between Washington and Tehran.
A wind of optimism is blowing through the oil markets. The barrel had not been this cheap since the end of August. On Monday, Brent, the global benchmark, plunged nearly 6% to end at $92.50.
Its American cousin, WTI, fell by more than 4% to $86.80. Last week, Brent had already suffered its biggest drop since… the start of Covid! In total, minus 20% since October.
And the ebb continues: this Tuesday, it was trading below 90 dollars. The markets are clinging to “the slightest glimmer of hope” of a diplomatic outcome, notes Ipek Ozkardeskaya, analyst at Swissquote.
Machine-translated from French
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Only Le Figaro reports this story so far. We show it as a single source until another newsroom confirms it.
- Le Figaro10 Nov, 19:41
| Publisher Le Figaro (established tier) | +76 |
| Total | 76 |
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