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S04 Ep07 Energy Market Update: Brent crude briefly dipped below $60 per barrel last week - its lowest level since May.

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Brent crude fell to $60.14/b on Friday, its weakest level since May, and remains below $61/b this morning. The selloff followed a break below key support at $65/b after Trump announced new 100% tariffs on China. Sentiment worsened as U.S. equities tumbled on reports of bank fraud linked to distressed mortgage loans and concerns over stretched AI valuations. Adding pressure, China’s Q3 GDP came in below 5%, highlighting weak demand.

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20 Oct English South Africa Business

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