Linea Mercati Interview 11/15/23
November 16, 2023
Dow Jones falls 140 points as economic data cools and ‘frantic’ November rally hits speed bump
November 16, 2023With WTI for December delivery off 2.9% at $74.44 a barrel. The decline follows yesterday’s EIA report of a 17.5 million-barrel build in crude stocks in the two weeks ended Nov. 10. “The overhang of climbing inventories and technical weakness continues to hammer prices. We see spot crude prices testing the $72 in the intermediate short- term,” Peter Cardillo, chief market economist at Spartan Capital, says in a note.
