Oil prices fall sharply on global demand fears

clock

Oil prices dropped yesterday as economic data from China and Europe renewed concerns about a slowdown in global demand.

Brent crude for November delivery fell $3.40 to $108.17 a barrel, while US crude was $3.75 down at $88.14 a barrel, the BBC reports. In September, Brent crude hit a four-month high of $117.95, but analysts said many factors that pushed up prices, including tensions between Iran and Israel, had now abated. Weaker data from China, showing its services sector expanded at a slower pace in September, was one contributing factor to the sell-off in oil and other commodities. That, coupled with weakness in European economies, signalled there would be plenty of supply, according to the BBC....

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Alternative Investments

Democratising finance: Alternatives and the role of financial advisers

Democratising finance: Alternatives and the role of financial advisers

The array of alternative investments is vast

J. Womack
clock 13 September 2023 • 3 min read

Andrew Aldridge: Vaccine roll out sees life science investment prospects shoot up

Andrew Aldridge

Andrew Aldridge
clock 11 March 2021 • 4 min read

Oliver Wallin: Five top tips for investing in alternatives

'Alternatives reality'

Oliver Wallin
clock 01 February 2019 • 7 min read