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U.S. crude fell 2.5 percent to a nearly seven-month low of $63.69, deepening October losses. Brent also fell to about $72.97.
Oil is being pressured by higher output from Russia, OPEC and the U.S. ahead of Iran sanctions, and by the U.S.-China trade dispute threatening demand.
Increased supply from several producers and trade-dispute demand risks push crude lower, reducing energy costs for feed logistics and co-product values.
cnbc.comTom DiChristopherNov 1, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
US crude hit a seven-month low and Brent slid as higher Russian, OPEC and US output plus trade-war demand fears pressured prices.
Same-day slide to multi-month lows on higher Russian, OPEC and U.S. output plus trade-war demand worries captures both supply and demand pressure behind the decline.
