Oil prices fell again today to near five month lows putting the market down for a fourth day in a row. Todays close was the lowest since July 6th. “The OPEC+ deal did little to support prices and given the (four) days of declines that followed it, traders are clearly very unimpressed,” said Craig Erlam, senior market analyst UK & EMEA, at data and analytics firm OANDA. Demand concerns were front and center as Chinas central banks were buying up the yuan to prevent it from weaking to much as Moodys cut their outlook to negative. The USD also rose to two week highs today. WTI traded up $.72 or 1.0% to close at $72.32. Brent traded down $.83 or -1.1% to close at $77.20.
