Oil Continues to Struggle As US Shutdown Curbs Demand

West Texas Intermediate fell for a third day this week on concern a protracted U.S. government shutdown will slow economic growth and reduce fuel demand.
WTI for November delivery fell 81 cents, or 0.8 percent, to $103.29 a barrel at 10:36 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 4 percent above the 100-day average.
Brent for November settlement slid 12 cents to $109.07 a barrel on the London-based ICE Futures Europe exchange. Volume was 1 percent below the 100-day average. The European benchmark’s premium over WTI widened to as much as $5.91, up from $5.09 yesterday.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza