Global crude oil price drops over 5% on Oct 28
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Update time : 2020-10-29 22:56:07
According to the market on October 28th, the crude oil price showed a significant decrease mainly caused by the worsening situation in the epidemic outbreak in the EU and the US.
There’s another reason for the strong price decline in crude oil, the crude oil inventory has shown a huge increase last week, which was also the largest increase in the near 7 months.
Based on the weak demand forecast and over-supply worry, the crude oil future price in the Western Texas Intermediate for December on October 28th came to US$37.39/barrel, decreased by 5.5% from the previous trading day.
