The decline of crude oil prices has shown no signs of stabilization. Instead, the selloff gathered momentum last week as both benchmarks settled below US$30/bbl for the first time in 12 years. The front-month WTI contract plummeted -11.3% while the Brent contract down -13.7% last week. Healing oil and gasoline contracts also fell -11.2% and -9.4% respectively.
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Weekly Fundamentals – Fatigue of Chinese Economy Reflected in Lower Oil Demand
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