6 key reasons the ‘bottom is falling out’ of oil prices on Black Friday
Crude-oil prices were carving out fresh yearly lows early Friday, deepening carnage in a commodity that already has futures for the U.S. benchmark and the international contract in bear-market territory.
Global benchmark Brent oil LCOF9, -5.34% and WTI are in a bear market, usually defined as a drop of at least 20% from a recent peak.
Here are a few reasons that industry experts say are contributing to Friday’s tumble, which had West Texas Intermediate crude trading on the New York Mercantile Exchange US:CLZ8 on the brink of slipping below $50 a barrel, off by about 7%, and approaching the lowest settlement since October of 2017:
https://www.marketwatch.com/story/6-key-...2018-11-23
Crude-oil prices were carving out fresh yearly lows early Friday, deepening carnage in a commodity that already has futures for the U.S. benchmark and the international contract in bear-market territory.
Global benchmark Brent oil LCOF9, -5.34% and WTI are in a bear market, usually defined as a drop of at least 20% from a recent peak.
Here are a few reasons that industry experts say are contributing to Friday’s tumble, which had West Texas Intermediate crude trading on the New York Mercantile Exchange US:CLZ8 on the brink of slipping below $50 a barrel, off by about 7%, and approaching the lowest settlement since October of 2017:
https://www.marketwatch.com/story/6-key-...2018-11-23