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WTI declines after disappointing US data, Middle East tension easing
At the end of the week, the West Texas Intermediate (WTI) barrel is seeing sharp losses, mainly due to worries on the US economy, the largest Oil consumer, after the release of weak labor and economic activity data. In addition, as the Middle East tensions ease, markets are confident that there won't be any supply or demand disruptions also contributing to the downward movements. The US Bureau of Labor Statistics revealed disappointing numbers, as job additions for October from the US economy fell short of expectations at 150,000 vs the 180,000 expected and decelerated from its revised previous figure of 297,000. In ... (full story)