What is the outlook for oil as prices slip into bear market territory?

Overproduction concerns

Tom Eckett
clock
Oil prices fall to fresh lows
Image:

Oil prices fall to fresh lows

Oil prices fell 2% to trade below $43 a barrel on Tuesday, entering bear market territory, after news of increased supply from Libya and Nigeria continued to scupper attempts by OPEC and non-OPEC producers to cut global output.

The price of West Texas Intermediate (WTI) crude oil futures fell as low as $42.75 a barrel before closing at a nine-month low of $43.23. This is the lowest level since 15 November last year, two weeks...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

Industry Voice: Not All Currencies Are Made Equal, So Don't Treat Them as Such

Industry Voice: Not All Currencies Are Made Equal, So Don't Treat Them as Such

Selective currency hedging may boost yields and add stability

Michael Walsh, Multi‑Asset Solutions Strategist at T. Rowe Price
clock 20 May 2022 • 3 min read
UK consumer confidence hits record low as the cost of living crisis deepens

UK consumer confidence hits record low as the cost-of-living crisis deepens

Report by GfK

clock 20 May 2022 • 1 min read
Cryptocurrency advertisements by firms such as crypto.com, Coinbase, Luno or eToro have breached the UK’s Advertising Standards Association (ASA) guidelines over 86 times, a new study carried out by Crypto Head has revealed

Crypto ads breach UK guidelines over 44 times for 'misleading advertising'

Study from Crypto Head

clock 19 May 2022 • 2 min read
Trustpilot