Brent and US crude prices slip as forecasts rise
Brent crude futures fell to $97.30 per barrel and US West Texas Intermediate dropped to $90.29 per barrel on 9 Nov. The declines come despite Goldman Sachs lifting its December Brent forecast to $105 per barrel and its US WTI forecast to $94 per barrel. The price moves follow a Houthi rebel strike on Saudi Aramco offices in Riyadh, which caused no casualties.
Key facts
- Brent price drop of 1.04% on 9 Nov.
- WTI price drop of 0.60% on 9 Nov.
- Goldman Sachs forecast increase for Brent to $105.
- Goldman Sachs forecast increase for WTI to $94.
- Houthi attack damaged Aramco offices, no injuries reported.
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Why it matters
Oil price shifts affect global energy costs and market expectations.
What changed
First published from The Economic Times