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Top global crude oil traders: As volatility decreases, the prosperous era of the market will come to an end.
As the impact of major market events in the past few years gradually fades, top global csi commodity equity index traders are striving to cope with a more challenging crude oil trade environment.
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Oil Prices on Track for Hefty Weekly Drop on Fears Over Demand
Multiple bearish factors dominate the market, causing WTI to fall below the $70 level.
This week (8.29-9.4), crude oil overall showed a downward trend in volatility. The average price of WTI this week was $72.25 per barrel, a decrease of $2.81 per barrel, or -3.75%, from the previous week. The main factors that led to the pressure and decline in oil prices during the week were: OPEC's increase in crude oil supply, the expected recovery of Libyan crude oil supply, and poor US energy demand.
TSX Closer: Weak Oil Prices and Rate-Cut Uncertainty Pushes the Market Below 23,000