August 23, 2019

Oil Price Watch 22 October 2011

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The FT reported on Tuesday that there were concerns about China’s GDP growth (latest data quarterly data just published showing it had grown at its lowest rate for more than two years). By Friday, Douglas Hepworth, director of research at Gresham Investment Management, told the FT that investors are “obviously nervous about a US slowdown. They are worried about European contagion. They are still worried about the Chinese inflation fight. But that flows down to all risky assets, equities and commodities alike”.  This increased pessimism also seems to have to have affected the price of many commodities and oil was no exception, (Issue 3 – expectations – in the Oil Price Watch Overview).

Price at end of week: $109.56  (down from $112.23 end of last week)  

Read the Oil Price Watch Overview