Energy · 5 views
Oil Prices Head for 12% Weekly Loss Despite Fresh Tanker Attacks
What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… Crude oil prices were on course for a sharp weekly drop, with both Brent crude and…
AI Summary
Crude oil prices are set to record a steep weekly decline, with both Brent and WTI futures falling about 12% since Monday. The slide follows the U.S. midterm election results, which have sparked optimism that the conflict in the Middle East could be resolved quickly. This market reaction reflects traders’ expectations of reduced geopolitical risk impacting supply outlooks.
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