Halloween’s long gone but the oil market’s still busy spooking investors away with Brent prices diving to four-month lows and spreads currently in their contango era. Everyone’s debating the trajectory of oil demand over the next year with weak economic data out of the US and China. OPEC+ has further postponed its meeting from Nov 26 to Nov 30, and the heightened volatility and bearish sentiment off of this led to an exodus of positions at a 7-year high from United States Oil ETF (USO).
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