Oil market’s calm masks signs of stormy trading ahead | Financial Times:
Just three weeks ago oil traders were worrying about a severe supply shortage materialising by the end of the fourth quarter, with the market abuzz with talk about $100-a-barrel crude and the return of US sanctions against Iran.
But as October draws to a close, oil’s four-year high of $86 a barrel, hit on the third day of the month, suddenly appears a long way in the rear view mirror.
Prices have dropped 12 per cent to near $76 a barrel, bringing with it the first early mutterings from Opec members about the dangers of a glut of supplies swamping the market.
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