Middle East Crude Prices Sink to Two-Month Low Against Brent
Market Intelligence Analysis
AI-PoweredMiddle East crude prices have dropped to a two-month low against Brent, indicating oversupplied markets due to increased output and tepid demand.
Market impact analysis based on bearish sentiment with 79% confidence.
Article Context
Key crude prices in the Middle East have dropped to their weakest level against the Brent benchmark in two months, signaling oversupplied markets as output from both the Middle East and the Americas rises amid tepid demand. The premium of Abu Dhabi’s flagship Murban grade over Brent, the international benchmark, has narrowed in recent weeks and is now at its lowest level since early October, according to estimates by Bloomberg. In Dubai, the discount of the benchmark against Brent had grown to its widest in seven weeks. The Brent-Dubai…
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