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International benchmarks for crude oil fell by over 2% on Wednesday 8 November 2023 on the concerns over the demand outlook in China and the US following the latest economic data from the two countries. Besides, surveys suggested the commercial crude inventories in the US might have jumped by 12 million barrels last week. If confirmed by the EIA, this would be the largest build since February.

Brent fell $2.07 or 2.5% to close at $79.54/barrel.

WTI dropped $2.04 or 2.6% to settle at $75.33/barrel.