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Oil posts worst day in three weeks, down $ 2

WTI crude oil down $ 1.99 to $ 82.66 in worst drop since October 6

There was a report of a 200,000 bpd outage in Libya today and other issues in Nigeria, but the market did not see enough demand in the weekly inventory reports to maintain the market. supply of oil alive.

To be far away, a correction is well overdue. Oil has risen for nine consecutive weeks. Lately there have been some impressive end-of-day oil deals in the United States, but that did not materialize today. Instead, WTI entered the settlement down $ 1.99 to $ 82.66.

There have only been a handful of bad days for oil in this race which started on August 20 and even those days weren’t particularly bad. Technically, however, you can see the momentum waning over the past week:

The OPEC meeting takes place on November 4. I don’t think there is too much nervousness around her, but no one trusts OPEC and expectations are high.

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