WTI crude oil futures follow the stocks lower. Tests 200 day MA.

Stocks lower /Saudi problems help send crude lower

Iran sanctions are around the corner (in November), but for now the crude oil market seems to be focused on lower global stocks (lower growth?) and the Saudi murder of Jamal Khashoggi.

Harsh, but with the deal maker in the White House, if the US has a reason to squeeze Saudi Arabia to bump up production and keep a lid/lower crude oil prices, this is the time. Higher prices for oil is a tax on the middle/lower class in the US. A lower price will help.

Technically, the price has moved down to test the key 200 day MA at $67.39. Back in August that MA was tested and held. This is the 2nd test. The last close below the 200 day MA was in October 2017.