Brent briefly touched $86.74, a level not seen since October 2014, before retreating to August levels.
Winter is coming. No, not a reference to Game of Thrones. No, it’s also not just a literal reference as we march on into November. It’s a metaphorical winter for all the oil bulls out there. Barely a month ago, the market was teeming with oil optimism, with traders banking on ever rising oil prices. Even $100 oil wasn’t out of the question as volume for $100 Brent call options went through the roof. Then the roof collapsed and took the floor along with it. Over the span of 3 weeks, Brent crude drop about $10.00.