Standard Chartered: Global Oil Demand Hit An All-Time High In August

Momentum in oil markets has continued to skew towards the downside over the past two weeks, with the last 10 trading days seeing front-month Brent record seven lower settlements, eight lower intraday highs and six lower intraday lows. Meanwhile, the 30-day realized annualized Brent volatility soared to an 11-month high of 39.1% at settlement on 21 October, good for a w/w increase of 3.1 ppt. December Brent declined 1.7% to trade at $$74.80 per barrel at 13.20 pm ET in Wednesday’s intraday session while WTI crude for December delivery fell…