Weekly Fundamentals - Crude Oil Prices to Soften in 4Q13

2 November 2013 2 November 2013

richrouse6440

Crude oil prices tumbled on Friday amid rising stockpiles in the US and report showing higher-than-expected Libya production. The front-month contract for WTI crude oil slumped to as low as 94.36, a level not seen since June, before settling at 94.61. The contract fell -1.84% and -3.31% on daily and monthly basis respectively. Brent crude dived to a 3-month low of 105.78 before ending the day at 105.91, down -2.69% and -0.95% respectively.