{"id":92028,"date":"2023-11-03T19:56:00","date_gmt":"2023-11-03T15:56:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=92028"},"modified":"2023-11-03T21:01:50","modified_gmt":"2023-11-03T17:01:50","slug":"brent-could-test-80s-lows-if-macro-impact-continues","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/brent-could-test-80s-lows-if-macro-impact-continues\/11\/03\/market-updates\/","title":{"rendered":"Brent could test $80s lows if macro impact continues"},"content":{"rendered":"\n<p>For the month of October, both crude oil and refined products have generally traded sideways. Analysts at Rabobank examine Brent&#8217;s prospects. Brent will at some point in Q4 2023 or Q1 2024 reach $100, but not on average. Brent is trading at $85.20 at the time of writing, as WTI crude oil is down -1.96%; trading at $80.65 per barrel.<br><br>If the demand for petrol continues to decline, this would indicate that the economic picture has gotten worse as well, which would cause a $10\u201312\/bbl financial sell-off in Brent and WTI. The long-term physical outlook and prevailing geopolitical concerns, however, will diminish this.<br><br>Brent could reach the low $80s if macro worries keep driving up prices. Economists continue to predict that at some point in Q4 2023 or Q1 2024, Brent will approach, but not average, $100\/bbl.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the month of October, both crude oil and refined products have generally traded sideways. Analysts at Rabobank examine Brent&#8217;s prospects. Brent will at some point in Q4 2023 or Q1 2024 reach $100, but not on average. Brent is trading at $85.20 at the time of writing, as WTI crude oil is down -1.96%; &hellip;<\/p>\n","protected":false},"author":13,"featured_media":72876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7156,6909],"class_list":["post-92028","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-brent","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=92028"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92028\/revisions"}],"predecessor-version":[{"id":92035,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92028\/revisions\/92035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/72876"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=92028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=92028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=92028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}