Shaky emerging market developments have been bearish for oil prices lately, with WTI falling to $68 per barrel by the end of the trading week after a $70 per barrel mid-week peak and Brent decreasing to $76.7 from a $79.5 per barrel peak on September 4. (Click to enlarge) Source: Bloomberg Despite Argentina clinching a new IMF deal, the Argentine Peso is still in shambles, while the Turkish lira is yet to reverse the 25 percent crash that it suffered in August against the U.S. dollar. With analysts fearing that energy demand in emerging markets might fall as imports become increasingly expensive for them, sentiment turned bearish. The volume of oil traded on NYMEX was 9 percent below the hundred-day average, butressed by an increase in U.S. gasoline and distillate fuel stocks. 1. Global Oil Demand Rising Faster than Anticipated (Click to enlarge) – Mohammad Barkindo, OPEC’s Secretary General […]