(EnergyAsia, October 25 2013, Friday) — US WTI crude fell below US$100 a barrel this week for the first time since July 10 as traders focused all attention on the continuing weakness in the world economy, led by the impact of the recent US government shutdown and need for monetary stimulus.


In New York, the US benchmark crude settled at US$97.11 on Thursday October 24, down from Monday’s close of US$101.75 while North Sea Brent fell by nearly US$3 to US$106.99.

The market’s focus and sentiments have radically shifted over the past two months, from fears of oil supply disruption and outbreak of major conflicts in Syria, Egypt and Iraq to the loss of momentum in the US economy.