Brent closed at $97.88 on Friday, falling below $100 for the first time in two months, down 16.8% for the week. It was still above $110 on Monday. WTI closed at $90.47, down $13.65 this week. On November 4, Brent fell 9.06% in a single day to close at $99.40, while WTI dropped below $90 that day.
With the election results in, markets think a US-Iran conflict is now less likely, squeezing the risk premium out of oil prices. Money has flowed into gold, which rose about 5% in two days to top $4,100.
Two things not to confuse: the $100 level making headlines refers to Brent; WTI had already fallen below it. No agreement has been signed yet, and the attacks on oil tankers in the Strait of Hormuz are still happening. These prices are based on the assumption that diplomacy can succeed. This could be the biggest weekly drop since April 2020.
#原油价格跌破100美元 $BZ
With the election results in, markets think a US-Iran conflict is now less likely, squeezing the risk premium out of oil prices. Money has flowed into gold, which rose about 5% in two days to top $4,100.
Two things not to confuse: the $100 level making headlines refers to Brent; WTI had already fallen below it. No agreement has been signed yet, and the attacks on oil tankers in the Strait of Hormuz are still happening. These prices are based on the assumption that diplomacy can succeed. This could be the biggest weekly drop since April 2020.
#原油价格跌破100美元 $BZ
