The selloff in oil continued on Friday, with WTI prices falling more than 5% as China reportedly asked the Saudis to ship less crude in December, OilPrice said.

One could barely ask for a more action-packed week – the prospect of World War III kicking in, a drone missile attack on a tanker in the Middle East, market optimism coming from improving inflation data swiftly nipped in the bud by an ever-worsening coronavirus outlook in China. There, things have gotten so dire that Chinese refiners have reportedly asked Saudi Arabia to cut already nominated December volumes, simultaneously cutting back on other buying, too. China coming back was very much part and parcel of the recent upswing in prices, hence ICE Brent slipping below $90 per barrel again should not come as a surprise.