Oil: Crude oil had a horrible week - BBH

Research Team at BBH, notes that the October light sweet crude oil futures contract had a horrible week as it lost 7.25% on top of the 3% drop the previous week. 

Key Quotes

“The market has become more skeptical of an agreement later this month to cut or even freeze output.  The 5-day moving average crossed below the 20-day.  However, despite the dollar's recovery after the employment data, oil prices remained firm.  A move above $44.45 may see a correction toward $45.75-46.00.”