Investors are cautious about Thursday's Sino-US trade talks, but oil prices fell sharply in the aftermath of the news as the U.S. Department of Commerce included 28 Chinese entities in the "entity list" of export controls, weakening hopes for an agreement between China and the United States, widening uncertainty about the prospects of the talks. Despite the temporary shutdown caused by the destruction of Ecuador's oil pipeline, the market is mainly concerned about the trade situation and demand prospects, ignoring this positive boost for the time being. On the other hand, the IMF president believes that 90% of the world's regional economic growth has slowed down, coupled with the EIA short-term energy outlook again downgraded demand growth expectations, economic recession expectations are becoming more evident.

As of October 8, WTI closed down $52.63 by $0.12, Brent by $58.24 by $0.11 and SC1911 by $437.2 by $10.7 per barrel.