Eigen RadarEconomics
Analysis

Brent fell toward $98 and stretched a 6-day slide

The Business Times reports Brent falling toward $98 and extending a 6-day losing run of more than 9 percent, with November WTI below $90, as a Saudi pipeline plan and Iran talks weighed on crude. CNBC's prior-session account is the same slide a day earlier: Brent fell 1 percent on a fifth session and closed at $99.25. The subject is the price move, separate from the European Central Bank (ECB) energy-inflation remarks.

Economics & Markets··Midday
A grey tanker is moored at a sunlit oil terminal while an orange tug waits offshore and pipes run along the concrete quay.

The 6-day run

The Business Times reports that Brent fell toward $98 and stretched a 6-day slide of more than 9 percent. November WTI was below $90. The paper ties the pressure to a Saudi pipeline plan and to talks involving Iran. CNBC's 22 September report is the previous step in that slide.[1], [2]

The prior close

CNBC reports that Brent fell 1 percent on a fifth session and closed at $99.25. That close sits just above the Business Times level a day later, when the paper described a move toward $98 on the sixth day. The two reports are successive sessions of one decline, not two unrelated oil stories.[2], [1]

What the papers say is weighing on crude

The Business Times names a Saudi pipeline plan and Iran talks as the weight on prices. CNBC's oil report the day before is the market session that left Brent at $99.25. The shared subject is the crude price over those sessions. It is separate from the European Central Bank (ECB) energy-inflation comment in the morning edition. A fifth-session close and a sixth-day move are one decline told on successive days. The morning edition's European Central Bank (ECB) energy remarks stay a different story.[1], [2]

References

  1. News sourceThe Business TimesBrent fell toward $98 and stretched a six-day slide↩1↩2↩3
  2. News sourceCNBCBrent fell 1 per cent on a fifth session and closed at 99.25 dollars↩1↩2↩3