WTI trades with modest losses below $81.00, seems vulnerable near two-month low

WTI remains depressed for the third straight day and languishes near a two-month low. Receding fears about supply disruptions from the Middle East war weigh on Oil prices. Worries that a slowdown in China will dent fuel demand contribute to the offered tone. The commodity remains depressed below the $81.00/barrel mark through the Asian session and seems poised to weaken further in the wake of easing global supply concerns.

A Caixin-sponsored survey also confirmed the official figures and showed that activity in China’s manufacturing sector contracted in October. This suggests that stimulus efforts from China only provided limited support to the fragile economic recovery. This comes amid worries about headwinds stemming from rising borrowing costs and validates the negative outlook for Crude Oil prices.

WTI Price Analysis: Sticks to modest gains around mid-$82.00s, upside potential seems limitedWest Texas Intermediate (WTI) Crude Oil prices attract some buying on Tuesday and move away from a near three-week low, around the $81. Read more ⮕

WTI Crude Oil drops amidst Greenback’s recovery, reduced supply concernsWest Texas Intermediate (WTI), the US crude oil benchmark, dropped more than 1. Read more ⮕

WTI loses traction above $82.40 amid the fear of oil supply disruptions, high ratesWestern Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82. Read more ⮕

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WTI drops over 3% amid risk-on sentiment prevailing, as geopolitical jitters fadeWest Texas Intermediate (WTI) dropped more than 3% amid the North American session amid a risk-on impulse, with traders shrugging off fears the Middle East conflict would escalate further. Read more ⮕