Oil Heads for Two-Month Low as Bleak Demand Signals Proliferate - Bloomberg:
West Texas Intermediate for November delivery fell 45 cents to settle at $53.62 a barrel on the New York Mercantile Exchange, the lowest close since Aug. 8.
The U.S. benchmark has fallen 15% since reaching $62.90 on the first trading day after the Sept. 14 attacks that devastated Saudi oil output. In the meantime, the kingdom has surprised many observers with the swift pace of repairs and restoration.
Brent for December settlement fell 36 cents to close at $58.89 on the ICE Futures Europe Exchange. The global benchmark crude traded at a $5.39 premium to WTI for the same month.
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