Class CNBC Interview 10/18/22
October 18, 2022Class CNBC Interview 10/19/22
October 19, 2022US benchmark oil prices fall 3.1% to finish at $82.82 a barrel, the third straight session of declines and the lowest closing price since Sept. 30. “Selling pressures continue to build in crude prices,” Peter Cardillo at Spartan Capital says in an email, noting market chatter about possibly more sales of crude from the US’s Strategic Petroleum Reserve was feeding some of the decline in prices. “From a technical perspective, the near term outlook is progressively worsening and may soon fall to the mid $70 dollar range.” Next up are weekly US inventory reports. A WSJ survey is forecasting a 1.7M-barrel rise in crude in the EIA data due tomorrow.
