At $43.96 (for the Dec contract)...
[4]
WTI is trading at its lowest level since August 28th (in the middle of the month-end massacre).
[5]
The WTI-Brent spread is at its widest in over 2 weeks "stressing the need for U.S. output to drop to get rid of the oversupply," warns Commerzbank commodity strategist Carsten Fritsch. Even more worrisome (for future hope), is the plunge in prompt contango (1st month - 2nd month) which has collapsed to 5-month lows.
[6]
This does not suggest good news on the horizon, as Fritsch warns, "unless we get news on U.S. production we should remain at these levels."
Charts: Bloomberg