Brent Oil to extend its slump amid concerns about demand – Commerzbank

Brent has dipped noticeably below $100 per barrel this week. Economists at Commerzbank expect this trend to continue.

Few supply concerns, but many demand concerns

“Brent is likely to continue sliding given that the recession fears will presumably not abate for the time being.”

“Not only has the IEA downwardly revised its demand forecasts, but it is also more optimistic about supply.”