Oil Is Getting Crushed Again
Crude oil is getting crushed.
Again.
In afternoon trade on Monday, crude oil prices were below more than $2 to below $79, falling rapidly from as much as $81 earlier in the day.
The drop in crude also took US equity markets off their best levels, with only the Nasdaq currently holding on to gains.
Earlier on Monday, the S&P 500 had been trading near a new all-time intraday high above 2,022.
Crude prices briefly spiked after headlines crossing Reuters said that Saudi Arabia increased its per barrel price for shipments to Asia for November. Saudi Arabia, however, cut prices on shipments to the US.
The quick drop in crude on Monday brought the commodity to yet another multi-year low, and the lowest level of its most recent breakdown, which has been in place since late summer.
Here's the intraday chart of crude oil's drop.
.png)
FinViz
Next Story
2 states where home prices are falling because there are too many houses and not enough buyers
US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
9 health benefits of drinking sugarcane juice in summer
10 benefits of incorporating almond oil into your daily diet
From heart health to detoxification: 10 reasons to eat beetroot
Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
