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CommodityOilPrice.com

The Global Oil Glut Returns as High Prices Crush Demand

The global crude oil market is moving back towards oversupply, according to analysts from Goldman Sachs and JPMorgan, with demand destruction from high prices causing fears of a deficit to fade and concerns of a glut to rise. “We estimate the global oil market returned to a surplus of 1.1 million barrels per day ‌in September, widening to 1.4 million bpd in October, nearly matching last year's…

ForexForexLive

What are the main events for today?

EUROPEAN SESSION In the European session, we don't have much on the agenda other that a couple of low-tier releases like the Swiss consumer confidence and the Eurozone retail sales. The data won't change anything for the respective central banks, so the market reaction will be muted. The focus remains on the fallout from the US midterm elections and the US-Iran situation. The rout in tech stocks…

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