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The oil market was rocked just weeks ago by a major attack on Saudi Oil infrastructure that saw 5.7 million bpd taken offline, but looking at oil prices, you’d never know it. Oil prices fell early on Thursday to their lowest level since early August as mounting evidence of a global economic slowdown and rising U.S. oil inventories more than offset all the price gains from last month’s attack on Saudi oil infrastructure. As of 10:23 a.m. EDT on Thursday, WTI Crude was down 2.83 percent at US$51.15 and Brent Crude was trading down 2.27…
Read more https://oilprice.com/Energy/Oil-Prices/Oil-Sinks-To-Two-Month-Low-On-String-Of-Bearish-News.html