Crude Oil Price Update - October 9, 2023 

– Brent crude down 1.2% at $84.43 per barrel. – US West Texas Intermediate crude down 1.4% at $82.99 per barrel.

– Concerns about a global recession. – Strength of the US dollar affecting non-US buyers. – Increased supply from OPEC+.

Crude oil prices still higher than the start of the year due to Ukraine conflict 

Short-term outlook divided: Economic slowdown may lead to further decline, while Ukraine conflict or supply disruptions could trigger a rebound.